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Cognizant’s Digital Makeover Plan With tech budgets directed more to new- age digital projects, Cognizant is sprucing up this platform to stay ahead of rivals The New Selling Plan: Chai Pe Ecommerce Hyper-local strategies like offering free tea to sellers and retailers, are becoming central to online marketplaces in India Startups Design Tech in Local Languages Ecommerce websites are translating their platforms to make them accessible to users residing in tier-2 or tier-3 cities Startups & Tech NEW DELHI | 20 PAGES | . `3.00 OR . `7.00 ALONG WITH THE TIMES OF INDIA TUESDAY, 21 APRIL 2015 PAGES 6, 7, 9 BENNETT, COLEMAN & CO. LTD. T HE E CONOMIC T IMES WWW.ECONOMICTIMES.COM Gandhi is a Blockbuster PURE POLITICS Rajiv, Indira No More in Hindi Awards Names of Indira Gandhi and Rajiv Gandhi will no more figure in the annual awards given by home ministry on Hindi Diwas for progressive use of Hindi in government, reports Aman Sharma. Yoga Gurus Did Give ‘Aum’ a Miss Experts roped in for Yoga Day celebrations con- firmed that references to ‘Aum’ would be dropped, contradicting BJP leader Ram Madhav’s claims. AAP Expels Bhushan and Yadav Shambhavi Anand & Evelyn Fok New Delhi | Bengaluru: Online gro- cery and vegetable retailers are burning cash in advertisements to get more shop- pers, just like Flipkart and Snapdeal have been doing for more than a year, as investors have put . `250 crore in three funding deals within a week this month. Specialised players such as LocalBa- nya, BigBasket and Mera Grocer are ad- vertising heavily while ecommerce gi- ants such as Snapdeal, Amazon and Paytm too plan to focus on a market seen as having huge potential. After all, food and grocery make up for almost 70% of India’s overall retail market, plus a huge number of Indian consumers is already used to mobile and Internet shopping. “Grocery forms a very large sector for any household and the local kirana players have not been able to give ser- vices which a modern customer would like to get,” said Mayank Khanduja, vice-president at SAIF Partners. Short Purchase Cycle12 Cos join ad bandwagon, a la Flipkart & Snapdeal Amazon India is inviting wholesale merchants to transact on a new website to be launched this week, reports Aditi Shrivastava from Bengaluru.7 Amazon Opens Window for Wholesale Merchants RAHUL GANDHI Vice-President, Congress Yours is a govt of suited-boot- ed people, who do not under- stand that the real power of the country lies with its farmers and labourers, and not with the corporates New Road Safety Bill Seeks to Define Taxi-hailing Apps India will for the first time clearly define online taxi-hailing companies like Uber and Ola in the road safety Bill that is in the works. Startups & Tech6 Centre Proposes to Change Rules of Benami Property Ownership The government could sharply restrict the rela- tives in whose names property can be acquired to spouses and unmarried daughters. Economy 13 llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll Expected Tax Rate Surge on GST Rollout may be Reined in The Centre and the states want to rein in surge in service tax when GST is rolled out, perhaps by taxing only a part of the service. Economy 13 Inside story Do you agree with the govt's recent crackdown on some NGOs? www.economictimes.com Is the sell-off in the markets indicative of deeper economic problems? TODAY’S QUESTION 83% YES 12% NO 5% CAN’T SAY D-St Loses Grip as a Mountain of Worries Looms Concern over dip in corporate earnings, Chinese trading curbs & tax on foreign funds Our Bureau Mumbai: Indian stocks drop- ped on Monday for the fourth straight day, weighed down by a heady mix of worries about cor- porate earnings slowdown, Chi- nese downturn, escalating debt worries in Greece and concern over retrospective taxation of overseas portfolio investors. The rupee’s decline to a month’s low against the US dol- lar also hurt sentiment as for- eign institu- tional investors (FIIs) dumped shares worth . `1,500 crore. Benchmark in- dices — Sensex and Nifty — fell below crucial support levels, mirroring the weakness in rest of Asia, after China’s curbs on speculative trading eclipsed its central bank’s move to ease liquidity. The BSE Sensex dropped 555 points, or 1.95%, to close at 27,886 on Monday, below the crucial support level of 28,000. NSE’s Nifty index declined 157 points, or 1.83%, to end at 8,448, below the psychological sup- port level of 8,500. Both indices have fallen 4% in the past four trading sessions. Market Likely to Remain Dull12 STOCKS ON THE SLIDE Of 30 Sensex stocks, 28 fell while two rose. RIL, which fell 4.5%, was the biggest index loser Weak Footing COMPANY BoB Lupin BPCL Sun Pharma ACC CMP % CHG 1.07 0.95 0. 71 0.58 0.53 179. 5 1 786 . 95 803. 5 1043. 8 1 529 . 75 NIFTY GAINERS NIFTY LOSERS COMPANY NMDC Ltd RIL Hero Moto IndusInd Bk M&M CMP % CHG -5.09 -4.45 -3.91 -3.68 -3.01 126. 75 885. 65 23 1 6 . 35 843. 75 1187. 7 SECTORAL LOSERS Sectors ET Retail ET T el eservi ces ET Realty ET Power ET Oil & Gas ET Sugar ET Hospitality ET Media ET Inf otech ET Fertiliser ET Metal Index Value % Chg -2.51 -1.95 -2.81 -2.01 -2.59 -1.56 -1.57 -2.07 -2.03 -2.15 -1.11 1168. 67 1930. 55 2755. 52 3649. 24 4965. 32 6788. 61 6848. 06 7227. 09 8535. 3 8590. 97 11341. 99 Deepshikha.Sikarwar @timesgroup.com New Delhi: More trouble seems to be brewing for Greenpeace with the Intelligence Bureau asking the finance ministry to withdraw the environmental lobby group’s income-tax exemption citing al- leged financial irregularities. IB has written to Revenue Secre- tary Shaktikanta Das, giving de- tailed account of the alleged vio- lation of the provisions of Foreign Contribution (Regula- tion) Act as also some of its activ- ities that ran counter to its stated objectives, two persons privy to the matter said. The move drew a scathing re- sponse from Greenpeace India. “We are not surprised the gov- ernment is using institutional power to orchestrate an attack on Greenpeace... This is yet another action that we will contest and as- sert our legitimate status as a non-profit charity involved in en- vironmental protection,” Execu- tive Director Samit Aich told ET. Errant NGOs in Line of Fire12 Greenpeace in Crosshairs; I-T Break may be Withdrawn TIGHTENING SCREWS IB alleges financial irregularities in letter to revenue secretary IN EXIT MODE Japanese drugmaker gets ready to sell its entire 9% stake in Sun Pharma for . `18,000 crore, appoints Goldman Sachs to execute sale Our Bureau Mumbai: Japanese drugmaker Daii- chi Sankyo will exit from Sun Phar- ma by selling its 9% stake in India’s largest drugmaker by market value for roughly . `18,000 crore in block trades in the stock market, two peo- ple with direct knowledge of the de- velopment said. Daiichi, which sold Ranbaxy Laboratories to Sun Phar- ma for $3.2 billion in April 2014, has appointed Goldman Sachs to execute the sale on Tuesday. The sale will bring the curtains down on a harrowing chapter for the Japanese drugmaker which be- gan when it purchased Ranbaxy in 2008. It suffered a series of jolts when the US FDA pulled up Ran- baxy for technical deficiencies and accused the firm of faking test re- sults to obtain clearances for its products. Daiichi was forced to pay $500 million in settlement. Ranbax- y’s value dropped steeply due to the disputes, so much so that its shares were trading at . `460 at the time of the Sun purchase last year. Daiichi’s purchase price from Ranbaxy share- holders was . `737 in 2008 though the Delhi-based firm’s shares never touched that level, having peaked out at . `660. Last year’s pur- chase of Ranbaxy by Sun gave Daiichi a 9% stake in India’s biggest and most profitable pharma company by market cap. Huge appreciation of Sun Phar- ma shares since the announcement of merger of Ranbaxy with Sun Pharma could be the reason for the Japanese drugmaker’s exit. Sun Shares have Gained 68%12 Sayonara! Daiichi Set to Bid Adieu to India via Block Deal The shares will be sold at a discount to Sun’s closing price of . `1,044 a piece on Monday Pritha.Dasgupta@timesgroup.com Kolkata: Sam Balsara’s Madison World has roped in Vikram Sakhuja, global strategic development officer at GroupM, as the chief executive of- ficer and board member of Madison Media and Madison OOH, a person close to the development told ET. Sakhuja will also own a “low single- digit minority stake” in Madison Media and Madison OOH, which will go up over some years to low double-digit stake, the person said. This is the first time that Balsara, who owns Madison World along with his daughter Lara Balsara, is getting into an equity partnership. Sakhuja to Run Ops of the 2 Cos12 Joins Madison Media, OOH as chief executive; to own stake in firms Sakhuja is Latest Advertising Star READY FOR A NEW ROLE 1984 Management trainee at DCM Ltd 1988 Associate Manager at Procter & Gamble 1996 Marketing Manager- Brands at The Coca-Cola Company ALUMNUS OF IIT-DELHI & IIM-CALCUTTA VIKRAM SAKHUJA 2000 EVP, Star TV 2002 MD, MindShare 2006 CEO, GroupM South Asia 2013 Worldwide CEO, Maxus 2014 Global Strategic Development Officer, GroupM Rahul: Naam to Suna hi Hoga! Special Feature War over Zero Rating Eight lakh emails arguing for a free In- ternet hit Trai, Flipkart walked out of a deal with Airtel, Mark Zuckerberg had to step up and defend Internet.org. Romit Guha unravels the fierce debate around ‘zero-rating’, where a website pays a telecom company to ensure it can be accessed free by users.16 The Story So Far June 2008 Daiichi Sankyo buys controlling stake in Ranbaxy Lab for $4.6 BILLION April 2014 Sun Pharma buys Ranbaxy for $ 3.2 BILLION in a share-swap deal June 2014 Sun Pharma announces decision to MERGE WITH RANBAXY Ranbaxy market value halves in four years as FDA clamps down on its Indian plants DAIICHI GETS 9% STAKE IN SUN PHARMA Sun Pharma market value rises 68% since announcement of merger with Ranbaxy Gautam Bhandari, the for- mer top Morgan Stanley fund manager who quit in 2012 with nine colleagues to set up PE firm I Squared Capital, on Monday closed a $3-billion (. `18,768 crore) fund that will invest in both Indian and global infrastructure assets, re- port Sneha Shah & Baiju Kalesh.8 Bhandari Closes $3-Billion Fund With the stock market correcting from record levels, some investors are feeling encouraged to dip their toes in the water. ET speaks to leading market players for their insights on the equity MF schemes that investors can buy into to bet on India’s growth story.11 Top Equity MFs to Play India Story The government plans to use former PM Jawahar Lal Nehru and Indira Gandhi’s state- ments on rehabilitation to counter Congress’ attack over the land Bill, reports Nistula Hebbar.2 BJP Fishes Out Nehru Quote Our Political Bureau New Delhi: Surrounded, al- most like a protection team, by a handful of the not-so-many Congress MPs, Rahul Gandhi delivered his maiden perform- ance in Lok Sabha since the 2014 polls, charging the Modi government with abandoning farmers to favour corporates. Yeh suit-boot ki sarkar hai… aapki sarkar bade logon ki sar- kar hai,” he said while taking a dig at Transport Minister Ni- tin Gadkari on his reportedly “honest” comments that the farmer should not depend on “Bhagwan” or “sarkar”. Rahul Back in the Picture12 Full Spread BigBasket LocalBanya Mera Grocer ZopNow Grofers PepperTap GrocerMax Oct-11 May-12 Jan-15 Sep-11 Dec-13 Nov-14 Dec-14 60 20 0.5 10 45.5 11.2 Early-stage funding from HNIs** Founded Funding* *($ Million) **(Amount not revealed) Valuation* 223.8 NA NA 50 115 NA According to India Brand Equity Foundation, food and grocery made up 69% of India’s $490-billion retail sector in 2013, followed by apparel at 8% Trouble Ahead? IB writes to revenue dept on alleged violations by NGO Income-tax dept could cancel its registration Greenpeace could lose tax exemption Online Grocers Use Carts of Cash to Lure Customers ARINDAM PAGES 2, 3, 4 Aam Aadmi Party has expelled rebels Yogendra Yadav and Prashant Bhushan, as well as two others, for “anti-party” activities.
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  • Cognizants Digital Makeover PlanWith tech budgets directed more to new-age digital projects, Cognizant is sprucing up this platform to stay ahead of rivals

    The New Selling Plan: Chai Pe EcommerceHyper-local strategies like offering free tea to sellers and retailers, are becoming central to online marketplaces in India

    Startups Design Tech in Local Languages Ecommerce websites are translating their platforms to make them accessible to users residing in tier-2 or tier-3 cities

    Startups & Tech

    NEW DELHI | 20 PAGES | .` 3.00 OR .` 7.00 ALONG WITH THE TIMES OF INDIA TUESDAY, 21 APRIL 2015

    PAGES6, 7, 9

    BENNETT, COLEMAN & CO. LTD.THE ECONOMIC TIMES

    WWW.ECONOMICTIMES.COM

    Gandhi is a Blockbuster

    PURE POLITICS

    Rajiv, IndiraNo More inHindi Awards

    Names of Indira Gandhiand Rajiv Gandhi will nomore figure in the annualawards given by homeministry on Hindi Diwasfor progressive use ofHindi in government,reports Aman Sharma.

    Yoga GurusDid GiveAum a Miss

    Experts roped in for YogaDay celebrations con-firmed that references toAum would be dropped,contradicting BJP leaderRam Madhavs claims.

    AAP ExpelsBhushan and Yadav

    Shambhavi Anand & Evelyn Fok

    New Delhi | Bengaluru: Online gro-cery and vegetable retailers are burningcash in advertisements to get more shop-pers, just like Flipkart and Snapdealhave been doing for more than a year, asinvestors have put .` 250 crore in threefunding deals within a week this month.

    Specialised players such as LocalBa-nya, BigBasket and Mera Grocer are ad-vertising heavily while ecommerce gi-ants such as Snapdeal, Amazon andPaytm too plan to focus on a market seenas having huge potential. After all, foodand grocery make up for almost 70% ofIndias overall retail market, plus a hugenumber of Indian consumers is alreadyused to mobile and Internet shopping.

    Grocery forms a very large sector forany household and the local kiranaplayers have not been able to give ser-vices which a modern customer wouldlike to get, said Mayank Khanduja,vice-president at SAIF Partners.

    Short Purchase Cycle12

    Cos join ad bandwagon, a la Flipkart & Snapdeal

    Amazon India is invitingwholesale merchants to transact on a new website to

    be launched this week, reports AditiShrivastava from Bengaluru.7

    Amazon Opens Windowfor Wholesale Merchants

    RAHUL GANDHIVice-President,Congress

    Yours is a govtof suited-boot-ed people, whodo not under-stand that thereal power ofthe country lieswith its farmersand labourers,and not withthe corporates

    New Road Safety Bill Seeks toDefine Taxi-hailing AppsIndia will for the first time clearly define onlinetaxi-hailing companies like Uber and Ola in theroad safety Bill that is in the works. Startups & Tech6

    Centre Proposes to Change Rules of Benami Property OwnershipThe government could sharply restrict the rela-tives in whose names property can be acquiredto spouses and unmarried daughters.Economy 13

    llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll

    Expected Tax Rate Surge on GSTRollout may be Reined in The Centre and the states want to rein in surge inservice tax when GST is rolled out, perhaps bytaxing only a part of the service.Economy 13

    Inside story

    Do you agree with the govt's recentcrackdown on some NGOs?

    www.economictimes.com

    Is the sell-off in the markets indicative of deeper economic problems?

    TODAYS QUESTION

    83%YES

    12%NO

    5%CANT SAY

    D-St Loses Gripas a Mountain ofWorries LoomsConcern over dip incorporate earnings,Chinese trading curbs& tax on foreign funds

    Our Bureau

    Mumbai: Indian stocks drop-ped on Monday for the fourthstraight day, weighed down by aheady mix of worries about cor-porate earnings slowdown, Chi-nese downturn, escalating debtworries in Greece and concernover retrospective taxation ofoverseas portfolio investors.

    The rupees decline to amonths low against the US dol-lar also hurt sentiment as for-

    eign institu-tional investors(FIIs) dumpedshares worth.` 1,500 crore.

    Benchmark in-dices Sensexand Nifty fellbelow crucialsupport levels,mirroring the

    weakness in rest of Asia, afterChinas curbs on speculativetrading eclipsed its centralbanks move to ease liquidity.

    The BSE Sensex dropped 555points, or 1.95%, to close at27,886 on Monday, below thecrucial support level of 28,000.NSEs Nifty index declined 157points, or 1.83%, to end at 8,448,below the psychological sup-port level of 8,500. Both indiceshave fallen 4% in the past fourtrading sessions.

    Market Likely to Remain Dull12

    STOCKS ON THE SLIDE

    Of 30 Sensexstocks, 28 fellwhile tworose. RIL,which fell4.5%, was the biggest index loser

    Weak FootingCOMPANYBoB

    Lupin

    BPCL

    Sun Pharma

    ACC

    CMP % CHG1.07

    0.95

    0.71

    0.58

    0.53

    179.5

    1786.95

    803.5

    1043.8

    1529.75

    NIFTY GAINERS

    NIFTY LOSERSCOMPANYNMDC Ltd

    RIL

    Hero Moto

    IndusInd Bk

    M&M

    CMP % CHG-5.09

    -4.45

    -3.91

    -3.68

    -3.01

    126.75

    885.65

    2316.35

    843.75

    1187.7

    SECTORAL LOSERSSectorsET Retail ET Teleservices ET Realty ET Power ET Oil & Gas ET Sugar ET Hospitality ET Media ET Infotech ET Fertiliser ET Metal

    Index Value % Chg-2.51-1.95-2.81-2.01-2.59-1.56-1.57-2.07-2.03-2.15-1.11

    1168.671930.552755.523649.244965.326788.616848.067227.098535.38590.9711341.99

    [email protected]

    New Delhi: More trouble seemsto be brewing for Greenpeace withthe Intelligence Bureau askingthe finance ministry to withdrawthe environmental lobby groupsincome-tax exemption citing al-leged financial irregularities.

    IB has written to Revenue Secre-tary Shaktikanta Das, giving de-tailed account of the alleged vio-lation of the provisions ofForeign Contribution (Regula-tion) Act as also some of its activ-ities that ran counter to its statedobjectives, two persons privy tothe matter said.

    The move drew a scathing re-sponse from Greenpeace India.We are not surprised the gov-ernment is using institutionalpower to orchestrate an attack onGreenpeace... This is yet anotheraction that we will contest and as-sert our legitimate status as anon-profit charity involved in en-vironmental protection, Execu-tive Director Samit Aich told ET.

    Errant NGOs in Line of Fire12

    Greenpeacein Crosshairs;I-T Break maybe Withdrawn

    TIGHTENING SCREWS

    IB alleges financialirregularities in letterto revenue secretary

    IN EXIT MODE Japanese drugmaker gets ready to sell its entire 9% stake inSun Pharma for .` 18,000 crore, appoints Goldman Sachs to execute sale

    Our Bureau

    Mumbai: Japanese drugmaker Daii-chi Sankyo will exit from Sun Phar-ma by selling its 9% stake in Indiaslargest drugmaker by market valuefor roughly .` 18,000 crore in blocktrades in the stock market, two peo-ple with direct knowledge of the de-velopment said. Daiichi, which soldRanbaxy Laboratories to Sun Phar-ma for $3.2 billion in April 2014, hasappointed Goldman Sachs to executethe sale on Tuesday.

    The sale will bring the curtainsdown on a harrowing chapter forthe Japanese drugmaker which be-gan when it purchased Ranbaxy in2008. It suffered a series of joltswhen the US FDA pulled up Ran-baxy for technical deficiencies andaccused the firm of faking test re-sults to obtain clearances for itsproducts. Daiichi was forced to pay

    $500 million in settlement. Ranbax-ys value dropped steeply due to thedisputes, so much so that its shareswere trading at .` 460 at the time ofthe Sun purchase last year. Daiichispurchase price from Ranbaxy share-holders was .` 737 in 2008 though the

    Delhi-based firmsshares never touchedthat level, havingpeaked out at .` 660.

    Last years pur-chase of Ranbaxy bySun gave Daiichi a9% stake in Indiasbiggest and mostprofitable pharmacompany by market

    cap. Huge appreciation of Sun Phar-ma shares since the announcementof merger of Ranbaxy with SunPharma could be the reason for theJapanese drugmakers exit.

    Sun Shares have Gained 68%12

    Sayonara! Daiichi Set to BidAdieu to India via Block Deal

    The shareswill be soldat a discountto Sunsclosing priceof .` 1,044 apiece onMonday

    [email protected]

    Kolkata: Sam Balsaras MadisonWorld has roped in Vikram Sakhuja,global strategic development officerat GroupM, as the chief executive of-ficer and board member of MadisonMedia and Madison OOH, a personclose to the development told ET.

    Sakhuja will also own a low single-digit minority stake in MadisonMedia and Madison OOH, whichwill go up over some years to lowdouble-digit stake, the person said.

    This is the first time that Balsara,who owns Madison World alongwith his daughter Lara Balsara, isgetting into an equity partnership.

    Sakhuja to Run Ops of the 2 Cos12

    Joins Madison Media, OOH as chief executive; to own stake in firms

    Sakhuja is Latest Advertising StarREADY FOR A NEW ROLE

    1984 Management trainee at DCM Ltd

    1988 Associate Manager at Procter & Gamble

    1996 Marketing Manager-Brands at The Coca-Cola Company

    ALUMNUS OF IIT-DELHI & IIM-CALCUTTA

    VIKRAM SAKHUJA

    2000 EVP, Star TV

    2002 MD, MindShare

    2006 CEO, GroupM South Asia

    2013 Worldwide CEO, Maxus

    2014 Global Strategic Development Officer, GroupM

    Rahul: Naam to Suna hi Hoga!

    Special Feature

    War over Zero RatingEight lakh emails arguing for a free In-ternet hit Trai, Flipkart walked out of adeal with Airtel, Mark Zuckerberg hadto step up and defend Internet.org.Romit Guha unravels the fierce debatearound zero-rating, where a websitepays a telecom company to ensure itcan be accessed free by users.16

    The Story So Far June 2008Daiichi Sankyo buys controlling stake inRanbaxy Lab for

    $4.6 BILLION April 2014Sun Pharma buys Ranbaxy for

    $3.2 BILLIONin a share-swap deal

    June 2014Sun Pharmaannouncesdecision to MERGE WITHRANBAXY

    Ranbaxy market value halves in four years as FDA clamps down on its Indian plants

    DAIICHI GETS 9%STAKE IN SUN PHARMA

    Sun Pharma market value rises 68% since announcement of merger with Ranbaxy

    Gautam Bhandari, the for-mer top Morgan Stanleyfund manager who quit in

    2012 with nine colleagues to set up PEfirm I Squared Capital, on Mondayclosed a $3-billion (.` 18,768 crore)fund that will invest in both Indianand global infrastructure assets, re-port Sneha Shah & Baiju Kalesh.8

    Bhandari Closes$3-Billion Fund

    With the stock marketcorrecting from recordlevels, some investors

    are feeling encouraged to dip theirtoes in the water. ET speaks toleading market players for theirinsights on the equity MF schemesthat investors can buy into to beton Indias growth story.11

    Top Equity MFs toPlay India Story

    The government plans to use former PM Jawahar Lal Nehru and Indira Gandhis state-ments on rehabilitation to counter Congress

    attack over the land Bill, reports Nistula Hebbar.2

    BJP Fishes Out Nehru Quote

    Our Political Bureau

    New Delhi: Surrounded, al-most like a protection team, bya handful of the not-so-manyCongress MPs, Rahul Gandhidelivered his maiden perform-ance in Lok Sabha since the2014 polls, charging the Modigovernment with abandoningfarmers to favour corporates.

    Yeh suit-boot ki sarkar haiaapki sarkar bade logon ki sar-kar hai, he said while takingadig at Transport Minister Ni-tin Gadkari on his reportedlyhonest comments that thefarmer should not depend onBhagwan or sarkar.

    Rahul Back in the Picture12

    Full SpreadBigBasket

    LocalBanya

    Mera Grocer

    ZopNow

    Grofers

    PepperTap

    GrocerMax

    Oct-11

    May-12

    Jan-15

    Sep-11

    Dec-13

    Nov-14

    Dec-14

    60

    20

    0.5

    10

    45.5

    11.2

    Early-stage funding from HNIs**

    Founded Funding*

    *($ Million) **(Amount not revealed)

    Valuation*223.8

    NA

    NA

    50

    115

    NA

    According to India Brand Equity Foundation, food and grocery made up 69%

    of Indias $490-billion retail sector in 2013, followed by apparel at 8%

    Trouble Ahead?IB writes to revenue dept on alleged violations by NGO

    Income-tax dept could cancel its registration

    Greenpeace could lose tax exemption

    Online Grocers Use Cartsof Cash to Lure Customers

    AR

    IND

    AM

    PAGES 2, 3, 4

    Aam Aadmi Partyhas expelled rebels Yogendra Yadav andPrashant Bhushan, aswell as two others, foranti-party activities.