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breaking news Ed Summons Amazon Country Head Regarding Fema Rape Allegations


The Enforcement Directorate has summoned Amazon India Country Head Amit Agarwal and other officials to inquire about Amazon’s deal with future coupons in 2019, aiming to determine if there was a violation of FEMA (Foreign Exchange Management Act) in the agreement that had been seen Amazon acquires a 49 percent stake in the company led by Kishore-Biyani.

Amazon has confirmed the subpoena, saying: “Receiving the subpoena issued by ED in relation to Future Group (settlement). (We) have received the subpoena and are reviewing it and will respond within the stated time frame.”

The agency has also summoned Future Group promoters and officials to verify documents and evidence.

Notably, FCPL owns a 10 percent stake in Future Retail, the parent entity that also manages Big Bazaar, Food Bazaar, etc.

Last week, angered by the voluminous documents presented by the parties in a batch of petitions arising from the Amazon Future Retail case, the Supreme Court asked whether the purpose was simply to drag or harass the judges and looked for a small common compilation of documents.

Amazon had mobilized the Supreme Court against an order from the Delhi High Court ordering the Competition Commission of India (ICC) to decide within two weeks on a PIL filed by the Confederation of All India Traders Association (CAIT ) in connection with the agreement.

On Friday, Amazon had written to the independent directors of Future Retail Ltd (FRL) alleging financial irregularities, including “Significant Related Party Transactions” with various Future Group entities.

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The merchant body CAIT has also argued that the agreement is revoked, claiming that the e-commerce principal had made false statements to obtain regulatory approval.

First published: IST

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