Man orders phone, gets soap; Amazon India head, three others booked
Noida (UP), Oct 30: Amazon's India head and three other persons have been booked after a customer claimed to have received a soap instead of a mobile phone that he had ordered from the e-commerce giant, police said Tuesday.
The case was registered at the Bisrakh police station in Greater Noida Monday, they said.
The company, however, said it takes all incidents of frauds seriously and was extending cooperation to police.
"A matter has been reported from Bisrakh police station area. The complainant said he had ordered a mobile phone through Amazon website. When he got the delivery on October 27 and opened the parcel, he found a soap instead of the phone in it," Circle Officer at Bisrakh Nishank Sharma said.
Based on a complaint from the man, an FIR has been registered against Amazon's country head Amit Agrawal, logistics firm Darshita Pvt Ltd directors Pradeep Kumar and Ravish Agrawal and delivery boy Anil, police said.
They have been booked under Indian Penal Code sections 420 (cheating and dishonesty), 406 (criminal breach of trust) and 120B (party to criminal conspiracy), according to police.
Sharma said legal proceedings have been initiated in the case.
When contacted, Amazon confirmed the incident and said they have processed the refund to the complainant.
"As India's most trusted online marketplace, we take incidents of fraud seriously. A case has been reported at the Bisrakh police station in Greater Noida. Local police have taken charge and we are extending all support or information that they need," it told.
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Stock market mayhem wipes out Rs 12.87 lakh cr from investors' wealth
New Delhi (PTI): Equity investors' wealth eroded by Rs 12.87 lakh crore on Thursday as stock markets went into a tailspin, with the benchmark Sensex plunging over 3 per cent, pressured by a spike in crude oil prices due to increasing attacks on energy infrastructure in West Asia.
Investors have lost over Rs 37 lakh crore since the West Asia crisis erupted on February 28.
Snapping its three-day winning run, the 30-share BSE Sensex tanked 2,496.89 points or 3.26 per cent - its biggest single-day plunge since June 2024 -- to settle at 74,207.24, a level not seen since April 7, 2025. During the day, it dived 2,753.18 points or 3.58 per cent to 73,950.95.
The market capitalisation of BSE-listed companies dived sharply by Rs 12,87,273.89 crore to Rs 4,26,13,557.95 crore (USD 4.61 trillion) in a single day.
"Indian equity markets witnessed a sharp reversal today, breaking their three-day recovery rally and closing significantly lower, with benchmark indices declining by nearly 3.3 per cent.
"The sell-off was largely driven by a fresh escalation in geopolitical tensions in the Middle East, where renewed strikes between Israel and Iran targeting critical oil and LNG infrastructure have reignited concerns over global energy supply disruptions," Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.
Brent crude, the global oil benchmark, soared 6.21 per cent to USD 114 per barrel.
"The sharp rise in crude oil prices, driven by escalating tensions in the Middle East and concerns over supply disruptions, pushed prices closer to the USD 119 mark, adding to the negative sentiment. Furthermore, a hawkish stance from the US Federal Reserve, along with continued foreign institutional investor outflows, weighed heavily on market sentiment," Ajit Mishra – SVP, Research, Religare Broking Ltd, said.
From the 30-Sensex firms, Eternal, Bajaj Finance, Mahindra & Mahindra, HDFC Bank, Larsen & Toubro and InterGlobe Aviation were among the major laggards.
HDFC Bank dropped 5.13 per cent after its chairman, Atanu Chakraborty, resigned, citing ethical concerns.
BSE MidCap Select index tumbled 3.34 per cent and SmallCap Select index dropped 2.77 per cent.
All sectoral indices ended lower. Auto dived 4.07 per cent, followed by realty (3.79 per cent), financial services (3.66 per cent), consumer discretionary (3.62 per cent), BSE Top 10 Banks (3.53 per cent), industrials (3.49 per cent), services (3.44 per cent), BSE Focused IT (3.41 per cent) and consumer durables (3.38 per cent).
A total of 3,192 stocks declined, while 1,051 advanced and 161 remained unchanged on the BSE.
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