Mayfair, a brand new entrant to the lifestyle and apparel e-commerce marketplace, has received a $three.2 Mn funding from Nexus Venture Partners and CDH Investments, in keeping with an announcement with the company’s aid. Mayfair said that the round was its seed investment spherical and could be used to ramp up procurement and operations and expand the team. On its Linkedin web page, the employer has defined itself as a fast-developing startup with finances raised from Baidu founders.
A software program engineer from Amity University, Noida. After graduation, she becomes part of a 14 months Communication for social exchange & media rights fellowship – ‘Ideosync Unesco India Fellow’ (IUI).
This order was surpassed in reaction to public interest litigation. The PIL alleged Amazon and Flipkart violated Foreign Exchange Management Act. After the rollout of e-commerce FDI policies, Amazon and Walmart had lost $50 Bn in marketplace cap.
On Monday (March 18th), The Delhi High Court disposed of public hobby litigation (PIL) which has sought a probe into the alleged foreign direct funding (FDI) violations through the e-commerce giants Flipkart and Amazon. This PIL becomes filed by way of a non-authorities company (NGO) Telecom Watchdog. A two decide bench of Chief Justice Rajendra Menon and Justice V Kameswar Rao handed the order after Enforcement Directorate (ED) informed the court docket about its already pending research on this issue. ED is a law enforcement and economic intelligence business enterprise beneath the Ministry of Finance. The organization is chargeable for enforcing financial laws and combating economic crime in India. As in step with the courtroom affidavit, the ED has registered a complaint and initiated a probe into the violation of Foreign Exchange Management Act (FEMA), 1999 or every other rule using Amazon and Flipkart. The NGO Telecom Watchdog petition had sought prison complaints in opposition to Amazon and Flipkart below the FEMA for violation of existing FDI norms.