Swiggy moves toward Indian owned and controlled status
Swiggy Ltd proposed rule changes to become an Indian Owned and Controlled Company. The move supports a domestic board and majority local shareholding.
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Swiggy Ltd said on Wednesday, May 13, that proposed rule changes are part of a broader move to become an Indian Owned and Controlled Company (IOCC) under the country's foreign exchange regulations. The company aims to establish a domestically controlled board and secure majority local shareholding. IOCC status requires both the board and majority shareholders to be based in India.
