Japanese imaging and electronics major's Indian subsidiary Ricoh India today said it has terminated employment of its CFO Arvind Singhal and Senior Vice-President and COO Anil Saini on finding that they have "caused grave loss to the company".
With no communication from new auditors or the parent company Ricoh Japan (holding 73.6 percent in the Indian subsidiary), domestic shareholders are trapped with no visible exit route.
"Manoj Kumar has resigned from the board of directors of the company with effect from April 2, 2016. He had been asked to go on leave on the March 29, 2016, by the decision of the board of directors," the company said in a BSE filing.
"People today are much more comfortable buying jewellery online. Transactions on our platform have been growing steadily and we are seeing about 5,500-7,000 orders per month.
According to data from Internet analytics firm comScoreData, Amazon India had 23.6 million unique visitors in May, edging past Flipkart narrowly. While Flipkart saw 23.5 million unique visitors, Snapdeal had 17.9 million in May this year.
The deal by Ola, backed by Japan's SoftBank Corp , is among the biggest in India's startup industry after Flipkart's purchase of Myntra for about USD 300 million in May last year.
With McCafe opening its doors in India on Monday, there's one more reason to go out for a cup of coffee. For McDonald's India, McCafe represents a host of opportunities.