ED Initiates Probe Against Amazon Under Foreign Exchange Management Act
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The Enforcement Directorate (ED) has initiated a probe against e-commerce giant Amazon for alleged violation of the foreign exchange law and rules of the country, official sources said on Thursday. The probe is being conducted under various sections of the Foreign Exchange Management Act (FEMA) after the central probe agency recently received a communication from the Commerce Ministry seeking necessary action against e-commerce players like Amazon and Flipkart pertaining to certain multi-brand retail businesses and an observation made by the Delhi High Court in relation to Amazon.
ED initiates FEMA probe against Amazon
The probe is being conducted under various sections of the Foreign Exchange Management Act (FEMA) after the central probe agency recently received a communication from the Commerce Ministry seeking necessary action against e-commerce players like Amazon and Flipkart pertaining to certain multi-brand retail businesses and an observation made by the Delhi High Court in relation to Amazon.
Amazon
AFP
The Enforcement Directorate (ED) has initiated a probe against e-commerce giant Amazon for alleged violation of the foreign exchange law and rules of the country, official sources said on Thursday.
The probe is being conducted under various sections of the Foreign Exchange Management Act (FEMA) after the central probe agency recently received a communication from the Commerce Ministry seeking necessary action against e-commerce players like Amazon and Flipkart pertaining to certain multi-brand retail businesses and an observation made by the D
Amazon urges HC to enforce arbitration award staying Future-Reliance deal
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Future Retail had approached the NCLT a day after Amazon on Monday moved the Delhi High Court seeking an injunction to restrain Future Group in filing any application with regulators to complete its proposed deal with Reliance Retail.
Reuters
In August last year, Future had reached an agreement to sell its retail, wholesale, logistics and warehousing units to Reliance.
New Delhi: Amazon on Thursday urged the Delhi High Court to enforce an Emergency Arbitrator award under the Singapore International Arbitration Centre restraining Future Group from going ahead with the deal to sell its retail assets to
ED initiates FEMA probe against Amazon
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ED initiates FEMA probe against Amazon
PTI / Jan 28, 2021, 21:08 IST
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NEW DELHI: The Enforcement Directorate (ED) has initiated a probe against e-commerce giant Amazon for alleged violation of the foreign exchange law and rules of the country, official sources said on Thursday.
The probe is being conducted under various sections of the Foreign Exchange Management Act (FEMA) after the central probe agency recently received a communication from the commerce ministry seeking necessary action against e-commerce players like Amazon and Flipkart pertaining to certain multi-brand retail businesses and an observation made by the Delhi high court in relation to Amazon.
ED investigating Amazon for FDI violations in Future Retail deal
Amazon, in its shareholders agreement, had barred Future Coupon from selling its assets to 15 firms, including Reliance Industries. However, in August last year, Reliance Retail acquired a 30 per cent stake in Future Group businesses for Rs 24,000 crore, which started the row with Amazon
BusinessToday.In | January 28, 2021 | Updated 20:04 IST
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The Enforcement Directorate (ED) is investigating e-commerce giant Amazon for alleged violation of foreign exchange laws in its dealings with Kishore Biyani-led Future Retail.
The law enforcement agency has filed a case against Amazon after a Delhi High Court bench last month made observations about the deal while hearing Amazon s challenge to acquisition of Future Retail by the Reliance Group.