Corporate Brand Uncategorized 

Godfrey Phillips rejects FDI norm violation allegations

Godfrey Phillips India Limited said that the suggestion of alleged violation of the FDI laws of India is completely misconceived and misplaced. The company said that it has entered into a commercial arrangement with IPM Wholesale Trading Private Limited (an Indian entity and affiliate of Philip Morris International Inc., USA) to manufacture Marlboro cigarettes in India in May 2009 which is a year before May 2010 when the restrictions on FDI in manufacture of cigarettes came into being. The commercial arrangement referred to above is in complete compliance with the…

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E-Commerce 

Centre tightens rules for e-commerce firms: What lies ahead for Amazon, Flipkart?

In a setback for e-commerce firms having foreign investment, the government on Wednesday barred online marketplaces such as Flipkart and Amazon from selling products of the companies in which they have a stake. The commerce and industry ministry also forbidden e-commerce firms from entering into an agreement for the exclusive sale of products. The revised policy on foreign direct investment in online retail also said that these firms have to offer equal services or facilities to all its vendors without discrimination. With an aim to provide clarity to #FDI policy…

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Sports Licensing 

Legalise gambling, betting on sports in India: Law Commission

The Law Commission on Thursday recommended that gambling and betting on sports, including cricket, be allowed as regulated activities taxable under the direct and indirect tax regimes and used as a source for attracting foreign direct investment (FDI). The panel, which submitted its report to law minister Ravi Shankar Prasad, said that as it was not possible to completely prevent these activities, “effective regulation” seemed to be the only viable option According to a PTI report, the commission also seeks stringent measures and make the entire operation a cashless transaction…

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