Traders' Body Accuses Amazon of Violating FDI Policy, Writes to Piyush Goyal; Company Denies Charges
4 years, 1 month ago

Traders' Body Accuses Amazon of Violating FDI Policy, Writes to Piyush Goyal; Company Denies Charges

News 18  

Traders' body CAIT on Wednesday accused e-commerce major Amazon of violating FDI policy and Foreign Exchange Management Act norms, a charge which the multinational company denied. The traders' body in a letter to Commerce Minister Piyush Goyal alleged that the online retailer has not sought the government's approval for conducting multi-brand retail activities in India and demanded action and imposition of maximum penalty against the company. "Documents available in the public domain show that Amazon has made an investment of about Rs 35,000 crore in Amazon India, a make-believe e-commerce marketplace platform, but in reality indirectly carrying multi-brand retail business," Confederation of All India Traders Secretary General Praveen Khandelwal told reporters. CAIT in its letter to Goyal demanded that "ED must take strict action against Amazon for its brazen violations including imposition of maximum penalties against them".

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History of this topic

ED likely to summon top Amazon, Flipkart executives over FDI rule violations
1 month ago

ED likely to summon top Amazon, Flipkart executives over FDI rule violations

India Today  

Top executives of e-commerce giants Amazon and Flipkart are under the scanner of the Enforcement Directorate over alleged violations of foreign investment regulations, sources have told India Today. The development follows extensive searches conducted by the ED at over 19 locations associated with vendors of Amazon and Flipkart across Delhi, Bengaluru, Mumbai, Hyderabad, and Panchkula. The ED's investigation stems from …

ED to start investigating Flipkart, Amazon's relationship with sellers
1 month ago

ED to start investigating Flipkart, Amazon's relationship with sellers

Firstpost  

The ED is scrutinising whether Amazon and Flipkart controlled vendors in ways that violate regulations, which mandate that these platforms operate purely as intermediaries and not as inventory-based businesses Nationwide searches were conducted earlier this month at 19 sites linked to prominent sellers of Amazon and Flipkart in New Delhi, Bengaluru, and Hyderabad. Image Credit: Reuters The Enforcement Directorate is …

ED to question Amazon, Flipkart officials over alleged foreign investment law violations: Report
1 month, 1 week ago

ED to question Amazon, Flipkart officials over alleged foreign investment law violations: Report

Live Mint  

The Enforcement Directorate of India will question Amazon and Flipkart officials as it steps up an investigation into alleged foreign investment law violations, days after raiding some of the e-commerce firms' sellers, Reuters reported on Monday, November 11, citing a senior government source. The latest raids were triggered by Amazon and Flipkart's antitrust investigation findings, which said the platforms “had …

ED raids offices of Flipkart and Amazon sellers across India due to alleged violations of foreign investment rules
1 month, 2 weeks ago

ED raids offices of Flipkart and Amazon sellers across India due to alleged violations of foreign investment rules

India Today  

India’s financial crime agency, the Enforcement Directorate, has conducted raids on sellers associated with Amazon and Walmart-owned Flipkart, targeting alleged violations of the country's foreign investment rules. This latest probe follows findings from India’s antitrust body, which concluded that both Amazon and Flipkart, along with some of their sellers, violated competition laws by favouring specific sellers. This investigation marks yet …

Amazon, Flipkart face FEMA violation probes; ED conducts pan-India raids
Trending News
1 month, 2 weeks ago

Amazon, Flipkart face FEMA violation probes; ED conducts pan-India raids

Firstpost  

A probe has been initiated by the federal agency under the provisions of the Foreign Exchange Management Act after it received several complaints against the two large e-commerce companies where it is alleged that they were ”violating India’s FDI rules New Delhi: The Enforcement Directorate Thursday conducted searches against some of the ”main vendors” operating on platforms of e-commerce giants …

ED raids offices of sellers using Amazon, Flipkart platforms in FEMA probe
Trending News
1 month, 2 weeks ago

ED raids offices of sellers using Amazon, Flipkart platforms in FEMA probe

The Hindu  

The Enforcement Directorate on Thursday conducted searches against some sellers who do business on e-commerce giants like Amazon, Flipkart as part of a Foreign Exchange Management Act investigation, official sources said. They said the action is related to the financial transactions being done by some of the “preferred” vendors and sellers who do business through Amazon and Flipkart like e-commerce …

US trade commission files anti-trust lawsuit against online retailer Amazon
1 year, 2 months ago

US trade commission files anti-trust lawsuit against online retailer Amazon

Al Jazeera  

Attorneys general from 17 states joined the Federal Trade Commission’s suit, which accuses Amazon of harming consumers. The United States Federal Trade Commission has filed a long-anticipated anti-trust lawsuit against online retailer Amazon, accusing the company of harming consumers by stifling competition. “The FTC and its state partners say Amazon’s actions allow it to stop rivals and sellers from lowering …

FTC to file antitrust case against Amazon as soon as Tuesday
1 year, 3 months ago

FTC to file antitrust case against Amazon as soon as Tuesday

The Hindu  

September 23, 2023 09:19 am | Updated 09:50 am IST The Federal Trade Commission will file a long-awaited antitrust lawsuit against Amazon in federal court as soon as Tuesday, Politico reported on Friday, kicking off the latest leg in the US effort to rein in the market power of Big Tech companies. The legal action, which would follow federal lawsuits …

FTC may file suit against Amazon later this month: Report
1 year, 3 months ago

FTC may file suit against Amazon later this month: Report

The Hindu  

The U.S. Federal Trade Commission may file a lawsuit later this month against Amazon.com after the company did not offer concessions to settle antitrust claims, the Wall Street Journal reported, citing people familiar with the matter. The lawsuit will target the company's logistics program, Fulfillment by Amazon, pricing on its website by third-party sellers and will suggest "structural remedies" that …

Delhi HC to Hear in January Amazon's Plea Challenging ED's Probe into Foreign Exchange Violation
3 years ago

Delhi HC to Hear in January Amazon's Plea Challenging ED's Probe into Foreign Exchange Violation

News 18  

New Delhi: The Delhi High Court on Thursday said it will hear in January a plea by Amazon challenging the jurisdiction of the Enforcement Directorate to investigate matters which are beyond its scope under the Foreign Exchange Management Act. Petitioners Amazon Wholesale Pvt Ltd and Amazon Seller Services Pvt Ltd challenged the jurisdiction of the Enforcement Directorate and its officers …

What led to Piyush Goyal’s outburst against India Inc.?
3 years, 4 months ago

What led to Piyush Goyal’s outburst against India Inc.?

The Hindu  

The story so far : Union Commerce Minister Piyush Goyal launched a verbal attack last week against Indian corporations, alleging that they were putting their narrow business interests ahead of the larger national interest. The Tata Group is also concerned that under the new rules it won’t be able to sell goods offered by Starbucks, in which it holds a …

Amazon, Tata say Indian govt e-commerce rules will hit businesses
3 years, 5 months ago

Amazon, Tata say Indian govt e-commerce rules will hit businesses

The Hindu  

Amazon.com Inc and India's Tata Group warned government officials on Saturday that plans for tougher rules for online retailers would have a major impact on their business models, four sources familiar with the discussions told Reuters. The government's tough new e-commerce rules announced on June 21 aimed at strengthening protection for consumers, caused concern among the country's online retailers, notably …

Amazon, Tata say new e-commerce rules will hit businesses, say sources
3 years, 5 months ago

Amazon, Tata say new e-commerce rules will hit businesses, say sources

The Hindu  

Amazon.com Inc and Tata Group warned government officials on Saturday that plans for tougher rules for online retailers would have a major impact on their business models, four sources familiar with the discussions told Reuters. The government’s new e-commerce rules announced on June 21 aimed at strengthening protection for consumers, caused concern among the country’s online retailers, notably market leaders …

E-comm rules: Fight between Amazon, Flipkart vs Reliance, Tata to intensify
3 years, 5 months ago

E-comm rules: Fight between Amazon, Flipkart vs Reliance, Tata to intensify

India TV News  

As e-commerce regulations are tightened, the fight between foreign companies Amazon, Flipkart, and Indian companies Reliance, Tata Group is set to intensify. 100% FDI is allowed in marketplace but regulations are evolving - 2018 rules pushed Amazon to reduce stake in a key seller. However, in 2021, there have been amendments to those rules, still at a draft stage and …

US defended Amazon after news report claimed company bypassed Indian law, favoured certain sellers
3 years, 7 months ago

US defended Amazon after news report claimed company bypassed Indian law, favoured certain sellers

Firstpost  

Emails obtained through the US Freedom of Information Act showed that American officials prepared a note for John Kerry, a top envoy of President Joe Biden, ahead of his meeting with India’s Commerce Minister Piyush Goyal US officials rushed to defend Amazon’s business practices in India after Reuters reported in February that the company had favoured certain sellers on its …

Reliance Retail tells government e-commerce players bypassing foreign investment norms
3 years, 8 months ago

Reliance Retail tells government e-commerce players bypassing foreign investment norms

The Hindu  

Billionaire Mukesh Ambani’s Reliance Retail on Thursday told the government that complex legal structures have been used by some firms to bypass the country’s e-commerce rules which from the very beginning do not allow foreign capital in the inventory-based model. At a meeting called by the Commerce Ministry on allegations that foreign online retailers created complex structures to bypass foreign …

Traders' Body CAIT Calls for Ban on Amazon in Country After Reuters Report
3 years, 10 months ago

Traders' Body CAIT Calls for Ban on Amazon in Country After Reuters Report

News 18  

A leading group of Indian retailers on Wednesday urged the government to ban the local operations of Amazon.com Inc, after Reuters reported the US e-commerce giant has for years given preferential treatment to a small group of sellers on its India platform and used them to circumvent the country’s strict foreign investment regulations. The Reuters report, based on internal Amazon …

CAIT seeks ban on Amazon in India
3 years, 10 months ago

CAIT seeks ban on Amazon in India

The Hindu  

A leading group of Indian retailers on Wednesday urged the government to ban the local operations of Amazon.com Inc, after Reuters reported the U.S. e-commerce giant has for years given preferential treatment to a small group of sellers on its India platform and used them to circumvent the country's strict foreign investment regulations. In a statement, the Confederation of All …

Amazon faces ED probe for alleged violation of the foreign exchange laws and rules of the country
3 years, 10 months ago

Amazon faces ED probe for alleged violation of the foreign exchange laws and rules of the country

Firstpost  

A probe has been launched against e-commerce and tech giant Amazon by the ED for being accused of an alleged violation of the foreign exchange laws and rules of the country. The investigation is being carried out under various provisions of the Foreign Exchange Management Act after the central probe agency recently received a notification from the Ministry of Commerce. …

ED Initiates Probe Against Amazon Under Foreign Exchange Management Act
3 years, 10 months ago

ED Initiates Probe Against Amazon Under Foreign Exchange Management Act

News 18  

The Enforcement Directorate 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 after the central probe agency recently received a communication from the Commerce Ministry seeking “necessary action” against …

Govt to Asks ED, RBI to Take Action Against Amazon, Flipkart on Violation of FDI Policy, FEMA
3 years, 11 months ago

Govt to Asks ED, RBI to Take Action Against Amazon, Flipkart on Violation of FDI Policy, FEMA

News 18  

In a significant development related to disputes between e-commerce giants and traders of India, the Union Government has directed the Enforcement Directorate and Reserve Bank of India to take necessary action against Amazon and Walmart-owned-Flipkart. The Centre has taken strong cognizance of various complaints made by the Confederation of All India Traders for blatant violation of FDI Policy and Foreign …

Centre Directs ED, RBI to Act Against Amazon and Flipkart for FDI, FEMA Violations
3 years, 11 months ago

Centre Directs ED, RBI to Act Against Amazon and Flipkart for FDI, FEMA Violations

News 18  

In a significant development related to war between e-commerce giants and traders of India, the Union Government has directed the Enforcement Directorate and Reserve Bank of India to take necessary action against Amazon and Walmart-owned-Flipkart. The Centre has taken strong cognizance of various complaints made by the Confederation of All India Traders alleging blatant violation of FDI Policy and Foreign …

CAIT Says Amazon's Arbitrary Policies to Dominate India's Retail Trade Should End
4 years ago

CAIT Says Amazon's Arbitrary Policies to Dominate India's Retail Trade Should End

News 18  

Trader’s body CAIT on Monday said Amazon’s “manipulative, coercive, arbitrary and dictatorial policies” to dominate India’s retail trade should come to an end, hours after the Delhi High Court passed an order related to Future Group’s proposed asset sale to Reliance Retail, a deal that is being opposed by Amazon. The court rejected Future Retail Ltd’s plea for an interim …

CAIT seeks strict action against Amazon in letter to ED, claims predatory pricing caused misery to small traders
4 years ago

CAIT seeks strict action against Amazon in letter to ED, claims predatory pricing caused misery to small traders

Firstpost  

The traders’ body claimed that despite the constant violations, no action has been taken against Amazon because of which 7 crore traders in India are feeling cheated and left out New Delhi: Traders’ body CAIT on Sunday said it has written to the Enforcement Directorate seeking “strict action” against Amazon, claiming that the e-commerce major has caused “misery” to small …

CAIT Asks ED to Take Strict Action Against Amazon for Causing 'Misery' to Small Traders
4 years ago

CAIT Asks ED to Take Strict Action Against Amazon for Causing 'Misery' to Small Traders

News 18  

The Confederation of All India Traders has written to the Enforcement Directorate with all the necessary details to prove that Amazon in India in 2012, over severe violations of rules and regulations of the country and causing misery to crores of small traders who are sought to be protected by the FDI Policy and the FEMA Rules and Regulations. “We …

Amazon May be on the Wrong Side of India’s FDI Rulebook for Multi-brand Retail on Dispute with Future Retail
4 years, 1 month ago

Amazon May be on the Wrong Side of India’s FDI Rulebook for Multi-brand Retail on Dispute with Future Retail

News 18  

Here is a sentence, which sounds innocuous and laced with bureaucratese at first glance, that may well be read and re-read several times and subjected to rigorous legal interpretation in the coming weeks. This sentence is from Clause of Section 5.2.15.4 titled “Multi-brand Retail Trading” of India’s “Consolidated FDI Policy”, an umbrella rulebook that contains micro-details of foreign investment regulations …

Traders Support Future Retail in Battle Against Amazon
4 years, 1 month ago

Traders Support Future Retail in Battle Against Amazon

News 18  

Traders body, CAIT has compared Amazon with East India Company in the colonial era which acquired Indian states one by one and monopolized Indian business. “The recent statement made by Indian origin Future Retail group to go for liquidation as a consequence of a acquisition battle of Amazon reminds us the colonial era when East India Company initiated the process …

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