Amazon ordered to recall 2,265 pressure cookers; to pay ₹1 lakh penalty
Central Consumer Protection Authority initiated suo-moto action against e-commerce platforms. Notices were also issued to Flipkart, Paytm Mall, Shopclues and Snapdeal
Central Consumer Protection Authority initiated suo-moto action against e-commerce platforms. Notices were also issued to Flipkart, Paytm Mall, Shopclues and Snapdeal
NCLT has appointed Vijaykumar V Iyer of Deloitte India Insolvency Professionals LLP as the interim resolution professional for the insolvency proceedings against Future Retail.
Failing to make the payment will lead to the recovery officer initiating recovery proceedings in accordance with the extant provisions, SEBI warns Future.
Due to fake and misleading reviews, the right to be informed, which is a consumer right under the Consumer Protection Act is violated, says govt.
Future has a shade over 550 stores left after RIL took over 830 stores for not paying rentals since early 2020. Of these, over 70% are defunct.
From a peak of 1,400 stores, Future group is now left with around 550 stores. Of these, 70% are shut because of lack of stocks.
Another meeting with secured and unsecured creditors of the listed Future Group companies is scheduled for today.
Debt recovery of ₹30,000 crore from Future group companies will be tough for the banks if the retailer loses stores to Reliance without a deal.
The Supreme Court bench has asked Future Coupons to respond to Amazon’s application by March 16, when the matter will be heard next.
Amazon, through its subsidiary, will purchase 76% stake in Prione Business Service, which includes Cloudtail India.