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Amazon's plan to buy out Cataraman in Prione violates FDI policy: Traders

   Domestic traders' body CAIT on Thursday claimed e-commerce major Amazon's plan to acquire Prione Business Services - its joint venture firm with Catamaran - will be a violation of foreign direct investment (FDI) policy. Amazon has said it will acquire Prione Business Services, subject to requisite regulatory approvals.
In August, Amazon and NR Narayana Murthy's Catamaran had announced they will not continue their joint venture Prione Business Services beyond May 2022.
Amazon has applied to the Competition Commission of India (CCI) for approval to buy Catamaran Ventures' 100% stake in Prione Business Services Pvt Ltd, and if the approval from CCI is given to Amazon, "it will be a gross violation of the FDI policy", Confederation of All India Traders (CAIT) has said. -
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