{"id":10948,"date":"2021-12-23T18:06:52","date_gmt":"2021-12-23T12:36:52","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-cait-amazon\/"},"modified":"2021-12-23T18:10:32","modified_gmt":"2021-12-23T12:40:32","slug":"biz-cait-amazon","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-cait-amazon\/","title":{"rendered":"Amazon&#8217;s plan to take over Cataraman&#8217;s stake in Prione Holdings gross violation of FDI Policy: CAIT"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1640648898\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>New Delhi, Dec 23 (PTI) Domestic traders body CAIT on Thursday claimed that e-commerce major Amazon&#8217;s plan to acquire Prione Business Services &#8211; its joint venture firm with Catamaran &#8211; will be a violation of foreign direct investment policy.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-756009096\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>Amazon has said it will acquire Prione Business Services, subject to requisite regulatory approvals.<\/p>\n<p>In August, Amazon and NR Narayana Murthy&#8217;s Catamaran had announced that they will not continue their joint venture Prione Business Services beyond May 2022.<\/p>\n<p>Amazon has applied to the Competition Commission of India (CCI) for approval to buy Catamaran Ventures&#8217; 100 per cent stake in Prione Business Services Pvt Ltd, and if the approval from CCI is given to Amazon, &#8220;it will be a gross violation of the FDI policy&#8221;, Confederation of All India Traders (CAIT) has said in a statement.<\/p><div class=\"trade-content_5\" id=\"trade-2862365428\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>It would be a violation because Amazon will have complete control over a seller on its marketplace platform and this will convert the online company from being a marketplace platform to an inventory based platform, which is strictly prohibited under the FDI policy, it added.<\/p>\n<p>Despite facing multiple investigations by various Indian agencies like the Enforcement Directorate and Competition Commission of India, Amazon has been &#8220;relentlessly&#8221; adopting various means to &#8220;circumvent&#8221; India&#8217;s sovereign laws, it noted. PTI RR  BAL BAL BAL<\/p>\n<div class=\"trade-after-content\" id=\"trade-631437067\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Dec 23 (PTI) Domestic traders body CAIT on Thursday claimed that e-commerce major Amazon&#8217;s plan to acquire Prione Business Services &#8211; its joint venture firm with Catamaran &#8211; will be a violation of foreign direct investment policy. Amazon has said it will acquire Prione Business Services, subject to requisite regulatory approvals. In August, [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-10948","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Amazon&#039;s plan to take over Cataraman&#039;s stake in Prione Holdings gross violation of FDI Policy: CAIT - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-cait-amazon\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Amazon&#039;s plan to take over Cataraman&#039;s stake in Prione Holdings gross violation of FDI Policy: CAIT\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Dec 23 (PTI) Domestic traders body CAIT on Thursday claimed that e-commerce major Amazon&#8217;s plan to acquire Prione Business Services &#8211; its joint venture firm with Catamaran &#8211; will be a violation of foreign direct investment policy. 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