News Update

New Income tax Code to be developed internally by CBDT, says Revenue SecretaryKejriwal to remain in judicial custody till Aug 8CCI approves combination involving Amazon Asia-Pacific, Frontizo, Appario, Haverl and CRPLUS economy grows by 2.8% in Q227 companies have cumulatively invested Rs 465 crore under PLI Scheme for IT HardwareCus - Adjudication proceedings initiated on the ground of 'illegal export' whereas seizure was on the belief that there is 'illegal import' - Clear lack of jurisdiction: HCIndonesia introduces golden visa programme to attract investmentCus - An assessee cannot be deprived of its justifiable money - Refund to be granted along with interest @8%, although Act provides interest @6% - Difference of 2% to be recovered from officers responsible and mention be made in their service records - Cost of Rs.1 lakh also payable: HCRailways deploys Kavach on 1465 Route km and 144 locomotives on South Central RailwayCus - It is settled law that Tribunal cannot travel beyond the scope of relief and the case made out in the show cause notice: HCHeavy rains batter Pune; 6 dead; Snafu at Mumbai AirportCus - RoSCTL Scheme - Right accrued pursuant to any law and/or Scheme in favour of the person cannot be denied merely due to any technical error and/or glitch: HC18.6 lakh candidates signed-up on 'FutureSkills PRIME' for Re-skilling of IT ManpowerST - Not only is the assessee a PSU but also if the tax had been paid on reverse charge basis, they would have been entitled to take credit - Net effect is the exercise is revenue neutral - Tribunal rightly set aside the penalty: HCSC Constitution Bench upholds rights of States to levy royalty on mineral taxGST - DRC-01 was not accompanied by SCN - Order passed - Violation of principles of natural justice - Orders set aside and matter remanded: HCAustralia notifies sanctions against Israel for West Bank violenceBudget 2024 plays unfair with property owners; redefines HNIs!Delhi HC imposes Rs 1 lakh fine for defaming judges on social mediaBudget 2024: A Comprehensive Perspective on GSTUS cautions tech start-ups on security threats from overseas investorsTaxonomy is not about taxesBudget for Vikasit BharatWill the Old Tax Regime be Consigned to A Margadarshak Role?
 
CCI approves combination involving Amazon Asia-Pacific, Frontizo, Appario, Haverl and CRPL

By TIOL News Service

NEW DELHI, JULY 25, 2024: THE Competition Commission of India (CCI) has approved the proposed combination involving, inter alia, Amazon Asia-Pacific Holdings Private Limited (Amazon Asia-Pacific), Frontizo Business Services Private Limited (Frontizo), Appario Retail Private Limited (Appario), Haverl LLC (Haverl) and Clicktech Retail Private Limited (CRPL).

The Proposed Combination involves the following transactions:

a. Acquisition by Amazon Asia-Pacific of 76% of the equity shares in Frontizo from Zodiac Wealth  Advisors LLP (Zodiac)

b. Acquisition of Appario's entire business, as a going concern, by CRPL,

c. Acquisition of 1% shareholding by Haverl in New Trends Commerce Private Limited (NTCPL)

d. Intra group transactions among Clicktech Enterprises Private Limited (CEPL), NTCPL and CRPL.

Amazon Asia-Pacific acts as the seller of record for distribution of digital kindle content to end-customers in India. Amazon.com, Inc, the ultimate parent company of Amazon Asia-Pacific, has certain indirect subsidiaries either registered in India or having business operations in India (Amazon Affiliates). Some of these Amazon Affiliates are engaged in business activities in the Indian retail market and wholesale (B2B) sales in India.

Frontizo is engaged in the business of providing customer support services to customers on the online marketplace, www.amazon.in and www.amazon.in/business (collectively, Amazon India Marketplace), operated by the Amazon Affiliate, Amazon Seller Services Private Limited (ASSPL) in India and to customers on Amazon.com, which is the online marketplace offered by Amazon Affiliates in the US. Frontizo provides customer support services through email, chat and telephone.

Frontizo's wholly-owned subsidiary, Appario, is engaged in retail (B2C) business and wholesale (B2B) sales in India. It currently offers for sale products to customers on the Amazon India Marketplace, operated by ASSPL.

Haverl is engaged in the business of making and holding investments.

CEPL is the parent/holding entity of NTCPL.

NTCPL is the parent entity of CRPL. NTCPL would commence the business of providing Business Onboarding and Integration Services.

CRPL is engaged in B2C and B2B sale of products to customers on the Amazon India Marketplace.


POST YOUR COMMENTS
   

TIOL Tube Latest

Dr. Shailendra Kumar, Chairman, TIOL Knowledge Foundation, addressing the gathering



Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.