Probe Agency Threatens Flipkart, Founders With $1.35 Billion Fine: Report

Probe Agency Threatens Flipkart, Founders With $1.35 Billion Fine: Report
Probe Agency Threatens Flipkart, Founders With $1.35 Billion Fine: Report
Enforcement Directorate has been investigating e-commerce giants Flipkart and Amazon.com Inc for years for allegedly bypassing foreign investment laws.
A Flipkart spokesperson said the company is "in compliance with Indian laws and regulations".
New Delhi:
The Enforcement Directorate has asked Walmart's Flipkart and its founders to explain why they shouldn't face a penalty of $1.35 billion for alleged violation of foreign investment laws, three sources and an agency official told
Reuters.
The Enforcement Directorate has been investigating e-commerce giants Flipkart and Amazon.com Inc for years for allegedly bypassing foreign investment laws that strictly regulate multi-brand retail and restrict such companies to operating a marketplace for sellers.

Related Keywords

India , Sachin Bansal , Walmart Flipkart , Walmart , Agency Threatens Flipkart , Softbank Group , Reuters , Probe Agency Threatens Flipkart , Founders With , Enforcement Directorate , Binny Bansal , Tiger Global , இந்தியா , சச்சின் பன்சால் , வால்மார்ட் பிளிப்கார்ட் , வால்மார்ட் , சாப்ட் பேங்க் குழு , ராய்ட்டர்ஸ் , அமலாக்கம் இயக்குநரகம் , பின்னி பன்சால் , புலி உலகளாவிய ,