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Court Asks Flipkart To Stop Selling GOQii Products

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On the 27th of May, a Civil Court in Mumbai issued an order restraining the e commerce giant Flipkart, from selling GOQii’s wearable products at large discounts. The restraint order came shortly after the Ratan Tata backed GOQii, issued a legal notice to Flipkart, saying they were facing a massive loss because of the huge discounts offered by Flipkart on GOQii’s products.

According to the legal notice filed by GOQii on the 18th of May, Flipkart was selling its products at a discount of 70% to 80% on the website, a practice which GOQii calls predatory pricing. Not only were these discounts going against the original agreement between GOQii and Flipkart, they are also violating foriegn investment policy in e commerce– since Flipkart is owned by Walmart.

In the issue notice against Flipkart, GOQii said because of this predatory pricing, a lot of their existing orders were also being cancelled. The wearable products manufacturer said its partners were not happy with the lowering of the prices as a result of which their profits were being slashed as well. Partners like Croma and other distributors are extremely unhappy with GOQii right now and are not taking any further orders.

Before the restraint order was filed against Flipkart, the e commerce platform responded to the allegations and said the complaints were baseless. Walmart owned Flipkart said the sales of the products were declining not because of their pricing policy, but because of the nature of the products.

In response to this, Vishal Gondal (founder and CEO of GOQii) said, “We urge Flipkart/Walmart to not use its position of dominance to compromise SMEs/startups. Such practices are not in the best interest of the ecosystem. Deep discounting continues to hurt GOQii business.”

This is not the first time a complaint like this was filed against Flipkart . In the year 2017, similar issues of predatory pricing were also brought to the attention of the Department for Promotion of Industry and Internal Trade (DPIIT) and the Competition Commission of India (CCI) by the All India Online Vendors’ Association. Even though GOQii had issued the legal notice, Flipkart refused to stop the discounts. Hence,  with no other way out, the GOQii had to go to court.

In its order, the Mumbai Civil Court and Sessions Court said it was necessary to place this restraint order in an attempt to level the playing field and to reduce the amount of damages incurred by GOQii.

Stay tuned for more updates.

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Piyush Anchliya Joins Cashfree Payments as CFO Amid Expansion in India’s Fintech Sector

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Cashfree Payments has appointed Piyush Anchliya as its new Chief Financial Officer (CFO), effective April 15, 2025. Anchliya brings over 15 years of experience in investment banking, corporate finance, strategy, and mergers and acquisitions, with senior roles at Barclays, Bandhan Group, and most recently as CFO of Bandhan AMC. He holds an MBA from IIM Ahmedabad and a B.Tech. from IIT Kharagpur.

In his new role, Anchliya will lead Cashfree’s financial strategy, optimize operations, and support the company’s next growth phase. He will report to CEO and Co-founder Akash Sinha, who highlighted Anchliya’s expertise as vital for sustainable scaling and strengthening the company’s financial foundation. Anchliya succeeds outgoing CFO Vikas Guru, who will assist during the transition.

Founded in 2015, Cashfree Payments processes over $80 billion annually for more than 800,000 businesses. The company recently raised $53 million in funding led by KRAFTON and Apis Growth Fund II and secured key RBI licenses, positioning it for accelerated growth in India’s fintech sector. Anchliya’s appointment comes at a pivotal time as Cashfree aims to expand its leadership in digital payments.

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Flipkart’s Jeyandran Venugopal Likely to Join Reliance Retail as CEO

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Jeyandran Venugopal, the outgoing Chief Product and Technology Officer of Flipkart, is set to become the CEO of Reliance Retail Ventures (RRV), the retail arm of Reliance Industries. His appointment, expected to be finalized in May after his exit from Flipkart, signals Reliance’s push to strengthen its retail business with a technology-first approach.

Venugopal brings extensive experience from leading roles at Flipkart, Myntra, Yahoo, Snapdeal, and Amazon, where he focused on scaling technology platforms and driving innovation. At Flipkart, he managed product, engineering, data science, and more, helping build robust systems and improve user experience.

His move comes as Reliance Retail undergoes transformation, including cost-cutting and a renewed focus on digital growth. Venugopal’s leadership is expected to accelerate Reliance’s ambitions in omnichannel and tech-driven retail, positioning the company for continued dominance in India’s evolving market.

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Delhivery’s Acquisition of Ecom Express: A Major Consolidation in Indian Logistics

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Delhivery, one of India’s leading logistics companies, has announced its acquisition of Ecom Express in an all-cash deal valued at ₹1,407 crore. This strategic move marks one of the largest consolidations in the logistics sector and is expected to enhance Delhivery’s scale, profitability, and operational efficiency.

Background

Ecom Express, founded in 2012 and headquartered in Gurugram, has faced significant financial challenges recently. The company canceled its IPO plans in 2024 and laid off hundreds of employees due to operational setbacks, including losing a major client, Meesho, which shifted to its in-house logistics service Valmo. These struggles led to a distressed sale, with private equity investors like Warburg Pincus and Partners Group exiting their stakes entirely.

Strategic Benefits for Delhivery

  1. Enhanced Scale: The acquisition will strengthen Delhivery’s network reach and infrastructure, enabling better service delivery across India.
  2. Operational Synergies: Combining operations with Ecom Express will improve efficiency and reduce costs through economies of scale.
  3. Competitive Edge: With Ecom Express as a subsidiary, Delhivery solidifies its leadership position in the logistics space by offering broader coverage and faster services.

Challenges Addressed

The acquisition mitigates risks from Ecom Express’ financial struggles while addressing past disputes between the two companies over inflated shipment volumes reported by Ecom Express during IPO filings.

Future Outlook

The deal is expected to close within six months after regulatory approval from the Competition Commission of India (CCI). Post-acquisition, Ecom Express will operate as a subsidiary of Delhivery, unlocking new growth opportunities such as advanced logistics technology integration and expanded customer reach.

With ₹5,488 crore in cash reserves as of September 2024, Delhivery is well-positioned to finance this acquisition without compromising financial stability. This move underscores Delhivery’s commitment to innovation and efficiency in India’s rapidly evolving logistics landscape.

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