Iconic jewellery brand Tiffany & Co will make its entry into the Indian market, thanks to Mukesh Ambani. According to reports, Reliance Brands has signed a deal with Tiffany & Co to re-launch the brand in India. The same report also mentioned that designer brand Tory Burch will also be launched in the country. Tiffany & Co had an unsuccessful franchising deal with a local jeweller in the country years ago, hence this is an attempt to re-launch the brand in a market that they have been trying to enter for a long time. But Tory Burch will be a new entrant in the Indian luxury market. Both the brands are set to be launched next year at the Jio World Centre Mall which will be opened in Mumbai in April next year. None of the three companies involved have yet confirmed these partnerships.
Naresh Goyal moves HC to withdraw plea
Naresh Goyal, the founder of grounded Jet Airways, approached the Delhi HC to withdraw his petition seeking permission to travel abroad. Goyal, in a fresh application, said the investigation by the Serious Fraud Investigation Office (SFIO) in an alleged fraud case of £1.8 billion was commenced and he was extending full cooperation and not pressing for the petition at this stage. Besides permission to travel outside India, he has also challenged a lookout circular issued against him on the ground that as on May 25, when he was de-boarded from a flight to Dubai, no ECIR/FIR was registered against him. Goyal has said he came to know of the LOC on May 25 when he and his wife Anita were off-loaded from a flight to Dubai with an onward connection to London. In the fresh application, he said when he had filed the petition in July, he was in an urgent need to travel abroad. Thereafter, he received summons from SFIO for recording of statement regarding the probe.
Plea against online drug sales dismissed
The Bombay high court has struck down a public interest litigation (PIL) challenging online sale of medicines. The PIL was filed against the Union government and e-pharmacies. The HC noted that guidelines to regulate such entities would be announced soon and, hence, they would “comply with substantive laws.” The petition had said certain categories of drugs (schedules H and X) cannot be sold without a prescription, that is, only through physical stores. In other words, the case challenged e-pharmacies where these critical medicines can be ordered online even without prescription in certain towns and cities. (Schedule H drugs include key antibiotics, and schedule X drugs are related to opioid and psychotropic substances - both categories cannot be sold without the prescription of a registered medical practitioner).
