| | DECEMBER 20219Amazon to Attain Catamaran's shareholding in Prione Business ServicesBY CEO INSIGHTS TEAMPrione Business Services, the joint venture be-tween Narayan Murthy-led Catamaran and Amazon, will be acquired by Amazon. Prione's wholly owned subsidiary Cloudtail India is one of Amazon's largest sellers in the country. "Ama-zon will acquire Catamaran's shareholding in Prione in compliance with applicable laws including all assets and liabilities," the two companies said."The businesses of the joint venture shall continue under the leadership of the current management and on receipt of regulatory approvals, the board of Prione and Cloudtail will take steps to complete the transac-tion in compliance with applicable laws," the statement added.So far, the two companies joint-ly own Prione Business Services, whose wholly-owned subsidiary Cloudtail India has repeatedly come under the scanner for alleged violation of Foreign Direct Investment (FDI) norms. But now, Cloudtail will continue as a seller on Amazon, it wasn't im-mediately clear if it could contin-ue as post this acquisition since the e-commerce rules bars marketplaces from having any ownership in the firms run by their sellers.Catamaran Ventures in 2019 raised its stake in Prione Business Services. The step reduced Amazon Asia's stake in Cloudtail to 24 percent from the earlier 49 percent, with Cat-amaran Ventures' stake rising to 76 percent from 51 percent earlier. Following this, Cloud-tail hence became part of Am-azon Group Company and mak-ing it compliant with the rules on the papers but yet not serving the purpose with which the norms were straightened. AT THE TIME OF CLAIM SETTLEMENT, INSURANCE COMPANIES DEDUCT THE DEPRECIATION AMOUNT FROM THE CLAIM, WHICH REDUCES YOUR COMPENSATION
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