Delhi’s logistics group wins UK investment

The Competition Commission of India (CCI) has approved an investment by Department of International Development (DFID) of UK Government in New Delhi-based logistics company Ecom Express Private Limited.

The UK investment by CDC Group plc, a Development Finance Institution, wholly owned by the DFID, providing scarce and patient capital to private sector entrepreneurs in developing countries.

The investment approval is under Section 31(1) of the Competition Act, 2002, said the Ministry of Corporate Affairs on 14 Nov 2019.

Ecom is engaged in delivery, fulfilment & warehousing and digital services such as e-KYC facilitation for the customers of banks, NBFCs and other companies that require such services; facilitation towards verification of the assets of said customers; facilitation towards contact point verification of said customers; and facilitation of the Digital Original Seen and Verified service. fiinews.com