DGGI Uncovers Tax Evasion, Flipkart’s 'Minutes' Expands Into Delhi, Swiggy’s New 'Cafe' Promises 15-Minute Delivery and more

The DGGI has uncovered a jaw-dropping INR 81,875 Cr in tax evasion within the online gaming sector, while the CCI takes Samsung and Xiaomi to task over exclusive launch collusion. Flipkart’s quick commerce service 'Minutes' expands into Delhi, vying for speedy delivery dominance, and Swiggy’s new 'Cafe' promises 15-minute delivery for snacks and beverages. In the electric vehicle realm, Warivo Motor makes waves with its high-speed e-scooter CRX, and tensions rise as Delhivery accuses Ecom Express of misrepresenting figures in their IPO filings.

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What Matters

“Ye Kya Ho Raha Hai Bhaiya”: DGGI Detected Tax Evasion Of INR 81,875 Cr In Indian Online Gaming

The Directorate General of Goods and Services Tax Intelligence (DGGI) uncovered a staggering INR 81,875 crore in tax evasion within India's online gaming sector during FY24. Involving 78 separate cases, this discovery highlights a troubling gap in regulatory oversight in a rapidly growing industry.

The findings raise serious concerns about the accountability and financial transparency of platforms operating in this space.

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“Bahut Na Insafi Hai”: CCI Finds Samsung, Xiaomi Flouted Rules For Exclusive Launches

The Competition Commission of India (CCI) has accused major smartphone makers like Samsung, Xiaomi, and others of colluding with Amazon and Flipkart for exclusive product launches.

The investigation reveals that brands, including OnePlus and Realme, were involved in unfair practices that may have limited consumer choice. As a result, these companies have been ordered to submit their financial statements for FY22-FY24, raising questions about transparency in India's booming smartphone market.

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“Mera Hi Jalwa”: After Bengaluru, Flipkart’s ‘Minutes’ Ventures Into Delhi’s Quick Commerce Turf

Flipkart’s quick commerce service ‘Minutes’ has expanded beyond Bengaluru, now offering its rapid delivery to users in Delhi.

After successful trials in areas like HSR Layout and Bellandur, the service promises deliveries in just 8-16 minutes, putting it in direct competition with Zepto, Blinkit, and Swiggy Instamart. The race in India’s quick commerce space is heating up.

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“Haari Baazi Ko Jeetna”: Swiggy launches 'Cafe' for 15-min snack and beverage delivery

Swiggy has introduced 'Cafe,' a new service that delivers snacks and beverages in just 15 minutes to select areas in Bengaluru.

The offering includes a curated selection of drinks like coffee and milkshakes from popular brands such as Blue Tokai and The Whole Truth. This move aims to elevate convenience for users craving quick, quality refreshments.

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“Swag Se Karenge Sabka Swagat”: Warivo Motor Enters High- Speed Escooter Market With Launch Of CRX

Warivo Motor has officially entered the high-speed e-scooter market with the launch of its CRX model, priced at INR 79,999.

Available in five colors, the CRX promises a blend of safety, performance, and affordability, making it an appealing option for eco-conscious commuters. With this launch, Warivo aims to carve out a niche in India's growing electric vehicle segment.

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“Darr Ka Mahaul Hai”: Delhivery Alleges IPO-Bound Ecom Express Used Incorrect Numbers

Delhivery has accused its IPO-bound competitor, Ecom Express, of misrepresenting key business metrics in its draft red herring prospectus (DRHP). The logistics giant claims that figures related to shipment volumes, Service EBITDA, and cost per shipment were incorrectly portrayed.

This allegation adds tension to the competitive landscape as Ecom Express prepares for its public debut.

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1. Non-banking lender Northern Arc Capital has secured INR 229 Cr from prominent anchor investors ahead of its upcoming IPO. The offering is set to open for subscription on September 16, marking a key milestone for the company.

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2. Insurtech startup Onsurity has raised $21 Mn from Creaegis to fuel its expansion and launch new SME-focused digital offerings. The fresh capital is expected to help the startup grow its client base.

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3. Sportswear startup Agilitas has secured funding from Spring Marketing Capital to boost its brand portfolio and expand its presence in India and international markets. While the funding amount and valuation remain undisclosed, the investment signals Agilitas' growth ambitions.

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4. Moneyboxx Finance has raised INR 176 Cr through equity shares and convertible warrants to fuel its lending expansion. The funds will support the NBFC's growth plans, particularly in providing business loans to micro-entrepreneurs.

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5. Virat Kohli-backed WROGN, operated by Universal Sportsbiz Private Limited, saw its FY24 revenue drop by 29% to INR 244 Cr, down from INR 344 Cr the previous year. The decline highlights ongoing challenges in scaling up sales for the youth fashion brand.

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