10th Indian Delegation to Dubai, Gitex & Expand North Star – World’s Largest Startup Investor Connect
E Commerce

DCGI issues notices to Tata 1mg, Amazon and 18 Other epharmacies for rule violations

The DCGI has issued show-cause notices to 20 epharmacies, including Tata 1mg, Amazon, and Flipkart, for selling and distributing drugs in violation of the Drugs and Cosmetics Act, 1940.

The companies have been asked to explain why they should not face consequences for breaking the rules. The Drugs and Cosmetics Act of 1940 governs drug importation, manufacturing, and distribution in India. The DCGI stated in the notice that the sale, stock, exhibit, or offer for sale or distribution of drugs through online, internet, or other electronic platforms without a licence may have an impact on drug quality and pose a risk to public health due to potential drug misuse through self-medication and indiscriminate use of the drugs.

by Tech In Asia

GoTo’s legal and corporate secretary said the company follows regulations for public companies and will prioritize the interests of shareholders. Source link

by INC42

SUMMARY The due diligence is done, and both sides are negotiating final terms for the cash and equity transaction If the deal closes, it will mark one of the biggest consolidation in India’s auto tech sector Notably, CarDekho entered the unicorn club in October 2021 after raising $250 Mn at a $1.2 Bn valuation. It, however, shut down its used-car retail business in 2023 after high operating costs made it unviable Listed auto marketplace CarTrade is reportedly in advanced stages to acquire rival CarDekho in a deal valued at… Source link

by INC42

From a brand known for its cool urban image and setting the Indian craft brewery benchmark, Bira 91’s survival hangs by a thread.  The startup, which has raised more than $200 Mn in funding to date from investors such as Peak XV Partners, Sofina, and Kirin Holdings, among others, is struggling to move past the slowdown that hit its business last year.   At the centre of the storm are 600 employees, the investors, and Ankur Jain, the CEO and founder of B9 Beverages Ltd, Bira 91’s parent company.  Jain is under pressure to step down… Source link