Tune into this video, where LawWiser takes you through both the updates, i.e., “India’s anti-money laundering agency summons amazon top management” and “foreign creditors may soon be in charge of defaulting Indian companies assets”.
Watch Prabhjot Singh briefly share the update on New rules to be framed for foreign creditors in charge of defaulting Indian companies and ED summoning the top management of Amazon.com on their deal with FCPL. The Indian Government Agency has summoned Amazon.com Inc’s top management to query them about the botched deal. As an essential fact, FCPL owns 10% of future retail ltd, a flagship entity that runs the big bazaar, food bazaar, and easy day chains.
On the other hand, Foreign creditor’s representatives could be in charge of discharging the local assets of defaulting companies because of the new rules that are likely to be formed under the IBC. #Staytuned to #LawWiser for more such interesting updates!