Bentonville, Arkansas headquartered Walmart is in the process of consolidating the logistics units of Bengaluru-based ecommerce platforms Myntra and Flipkart, Entrackr reported. Amitesh Jha, who heads Flipkart Ekart, will manage the merged entity, the report said. The merger is expected to help the company trim its expenses, the news platform said, citing sources.
Google Play Store suspends Mitron app
Bengaluru-based short video platform Mitron has been removed from the Google Play Store for allegedly violating its spam and minimum functionality policy, according to a report on Entrackr. The app, which was reportedly founded by an Indian, amassed 5 million downloads since its launch in April, multiple media reports said.
Flipkart investor sold stake in 2018 to avoid tax: AAR
A Rs 14,500 crore transaction made in 2018, when a private equity investor sold its stake in Flipkart to US retail major Walmart, was designed to avoid tax, the Economic Times reported, citing the Authority of Advance Ruling (AAR). This development may also cause the Indian tax department to scrutinise other investments routed through Mauritius, if benefits under the grandfathering clause have been claimed, it said. The clause allows investors to seek tax exemption on investments made prior to 2016, when the tax treaty with Mauritius was amended.
Saregama inks licensing deal with Facebook
Kolkata-based music label Saregama has signed a licensing deal with Facebook to allow the social media platform’s users to add music to their posts, stories and profiles. The service, also available on Facebook-owned Instagram, will allow users to choose from a catalogue of over 1,00,000 songs across several genres, as per a statement.
Digitates makes ignio Studio generally available
Digitate, the software division of information technology (IT) services giant Tata Consultancy Services (TCS), has made its low-code development suite ignio Studio generally available. The software suite leverages artificial intelligence and machine learning technologies to deliver autonomous IT for enterprise business operations, according to a statement.
Syncordis gets certification from software firm Temenos
Syncordis, a subsidiary of Larsen & Toubro Infotech, is now a global Temenos managed upgrade services partner. The certification recognises that the company has serviced clients of the software firm Temenos for several years, as per a statement. Founded in 2004, Syncordis provides end-to-end implementation and system integration for Temenos’ digital suite.
Inspira Enterprise offers free trial of cybersecurity service
Cybersecurity transformation services provider Inspira Enterprise will offer a free trial of its managed security operation centre service to healthcare, educational and non-governmental organisations till August 31. The solution helps users protect their assets against cyber thefts, as per a statement. This initiative is part of the company’s corporate social responsibility commitment, it said.