ED summons Amazon India, Future Group officials

-
The federal agency is examining whether Amazon was in breach of the Foreign Exchange Management Act (FEMA) when it invested Rs 1,431 crore to purchase a 49% stake in FCPL in 2019 and if it complied with regulations. FCPL owns about 10% of Future Retail Ltd (FRL), the flagship entity that runs the Big Bazaar, Food Bazaar and Easyday chains.

from Stocks-Markets-Economic Times https://ift.tt/3nXcc6J

Comments

Post a Comment

Popular posts from this blog

Gokaldas Exports reports 152% jump in revenues

-
Image
The company reported a profit before tax (PBT) of Rs 50.8 crore compared to a loss of Rs.2.6 crore in the same period last year and a PBT Rs 52.4 crore in the Jan-March quarter of the last fiscal year. In the first quarter of this fiscal year, the company considered a share-based compensation charge of Rs 6 crore, excluding which the profit before tax was Rs 56.8 crore. from Stocks-Markets-Economic Times https://ift.tt/biomg7W
Read more

US largest source of FDI in FY23; Mauritius, UK next

-
The census results showed that the United states followed by Mauritius, the United Kingdom and Singapore accounted for 60 percent of the inward FDI in the country in 202-23. In case of overseas direct investment - ODI - also, Singapore, the United States and the United Kingdom and the Netherlands were among the top four destinations accounting for 60 percent of the Rs 9.1 lakh crore invested by Indian entities in 2022-23. from Stocks-Markets-Economic Times https://ift.tt/nDI9BbW
Read more