Meesho closes $550 million round; moves NCLT to shift domicile, ET LegalWorld
Ecommerce firm Meesho has closed another $250-$270 million in financing with new investors Tiger Global, Think Investments, Mars Growth Capital joining an ongoing capital raise, taking the round’s total to about $550 million, majority of which is in secondary, people aware of the development told ET. The SoftBank- and Prosus-backed ecommerce firm has also filed […]
CCI clears Google’s $350 million funding in Flipkart, Temasek’s investment in Rebel Foods, ET LegalWorld
The Competition Commission of India (CCI) has granted clearance for Google’s $350 million minority investment in Walmart-owned Flipkart, the antitrust regulator said on Tuesday. It also cleared the investment by Singapore’s sovereign wealth fund Temasek in cloud kitchen startup Rebel Foods. Google’s investment in Flipkart is part of a nearly $1 billion funding round that […]
TBO Tek wins appeal against tax demand of ₹302 Million, Legal News, ET LegalWorld
Customs, Excise, and Service Tax Appellate Tribunal has allowed the TBO Tek’s appeal against the demand order passed by the Additional Director General, Directorate General of Goods and Services Tax Intelligence. The demand was towards non-payment of the amount allegedly collected as representing Service Tax from the Sub-Agents for a demand amount of ₹ 302.02 […]
CJ Holdings Files Complaint against Autoline Industries over $1.5 Million dispute, ET LegalWorld
CJ Holdings North America, LLC has filed a Complaint against Autoline Industries Limited in the Oakland County Circuit Court, State of Michigan, according to the exchange filing. Autoline Industries had entered into a Settlement Agreement with CJ Holdings on April 18, 2017, for the settlement of a claim for an amount of USD 1,700,000 subject […]
CCI imposes $25.4 million fine on Meta, Legal News, ET LegalWorld
India’s competition watchdog directed WhatsApp to refrain from sharing user data for advertising purposes with other applications owned by Meta for a period of five years and fined the US tech giant $25.4 million on Monday over antitrust violations related to the messaging application’s 2021 privacy policy. The Competition Commission of India (CCI) launched a […]
Samsung Faces $100 Million Loss Due to Labor Strike as Court Battle Over Union Registration Begins, ET LegalWorld
Samsung India Electronics Pvt Ltd has moved the Madras high court opposing the attempt by its labourers to register Samsung India Thozhilalar Sangam – a trade union. Allowing the impleading petition moved by the company on Tuesday, Justice R N Manjula permitted it to participate in the proceeding moved by the workers seeking registration of […]
U.S. Court overturns $25 million arbitration award against former SEBI chairperson Meleveetil Damodaran, ET LegalWorld
A U.S. Court has overturned an arbitration award against Meleveetil Damodaran, former Chairperson of SEBI, which had previously found him liable for $25 million in damages to UpHealth Holdings Inc., a U.S.-based healthcare entity. The award was connected to a Share Purchase Agreement (SPA) involving UpHealth, Glocal Healthcare Systems Private Limited (India), and its shareholders, […]
Zydus Wellness faces ₹3.09 million tax demand for FY 2014-15, plans appeal, ET LegalWorld
Zydus Wellness Products Limited has received an Assessment Order from the Excise and Taxation Officer-cum-Notified Authority, U.T., Chandigarh, under Section 29(2) of The Punjab VAT Act, 2005, and The CST Act, 1956, alleging a demand of ₹0.31 million towards VAT (including a penalty of ₹0.16 million) and ₹2.78 million towards CST, aggregating to ₹3.09 million […]
Star files Statement of Case in London court against ZEE, seeks $940 million in damages, ET LegalWorld
In what may account to be fresh trouble for Zee Entertainment Limited (ZEEL), Star India Private Limited (Star) has filed Statement of Case in its ongoing arbitration proceedings against the former, seeking damages of $940 million (approximately Rs 7, 869 crore) in the now terminated ICC TV rights deal case. However, Zee has strongly denied […]
Court grants bail to 9 persons accused in USD 15 million cyber fraud case, ET LegalWorld
The Rouse Avenue court on Thursday granted bail to nine accused persons in a transnational cyber fraud case. This case is linked to an alleged fraud committed against US citizens worth USD 15 million. In July this year, the CBI arrested 43 accused people from a Gurugram call centre in connection with the case. Special […]