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 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. In the second instance being investigated by the ED that involves Amazon, the Delhi High Court had made observations on the US e-commerce firm objecting to the Rs 24,713 crore Future Group-Reliance deal that was signed in August last year. The court had also made several observations indicating that Amazon’s attempt to control Future Retail through a conflation of agreements Amazon has with an unlisted unit of the Indian company will be violative of the FEMA FDI rules.

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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 …

ED searches 19 premises linked to main vendors of Amazon and Flipkart under FEMA
1 month, 2 weeks ago

ED searches 19 premises linked to main vendors of Amazon and Flipkart under FEMA

The Hindu  

The Enforcement Directorate has searched 19 premises across five States linked to the main vendors of Amazon and Flipkart for suspected violation under the Foreign Exchange Management Act, according to an agency official. “The ED initiated its FEMA investigation based on several complaints against Amazon and Flipkart, the E-commerce entities providing marketplace, alleging that they are violating FDI Rules by …

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 19 premises of ‘main’ sellers using Amazon, Flipkart platforms
1 month, 2 weeks ago

ED raids 19 premises of ‘main’ sellers using Amazon, Flipkart platforms

Hindustan Times  

NEW DELHI: The Enforcement Directorate on Thursday carried out searches at 19 premises linked to some “main” sellers using Amazon and Walmart-owned Flipkart platforms in connection with its probe into alleged violation of foreign investment rules, people familiar with the development said. The official underlined that the searches took place on premises linked to the “main vendors” of Flipkart and …

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 …

Crackdown on Amazon and Flipkart vendors, ED conducts raids on 16 locations
1 month, 2 weeks ago

Crackdown on Amazon and Flipkart vendors, ED conducts raids on 16 locations

Hindustan Times  

The Enforcement Directorate on Thursday conducted searches against some sellers who do business on e-commerce giants like Amazon, Flipkart as part of a FEMA investigation, official sources said. Amazon, Flipkart vendors raided in FEMA probe Antitrust investigations conducted by the Competition Commission of India have found that Amazon and Flipkart violated local competition laws by giving preference to select sellers, …

Crypto Exchanges Under Scanner: CoinSwitch, CoinDCX Get ED Notices Over FEMA Violation, Say Sources
2 years, 5 months ago

Crypto Exchanges Under Scanner: CoinSwitch, CoinDCX Get ED Notices Over FEMA Violation, Say Sources

News 18  

The Enforcement Directorate, continuing its crackdown on cryptocurrency firms, has sent notices to crypto exchange companies CoinSwitch and CoinDCX as they allegedly came under the central agency’s radar. The notices against CoinSwitch and other platforms have been sent by the ED over the alleged violation of the Foreign Exchange Management Act, the abovementioned sources told News18. As per a statement …

Delhi High Court To Hear In January Amazon's Plea Challenging Enforcement Directorate's Jurisdiction To Investigate Matters Beyond It's Power Under FEMA
3 years ago

Delhi High Court To Hear In January Amazon's Plea Challenging Enforcement Directorate's Jurisdiction To Investigate Matters Beyond It's Power Under FEMA

Live Law  

The Delhi High Court will hear on January 5 next year, the plea filed by Amazon Wholesale India Private Limited India challenging the jurisdiction Directorate of Enforcement and its officers to investigate it in the matters beyond the scope of power of the ED under the Foreign Exchange Management Act.The plea which was listed for hearing today before a single …

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 …

Amazon challenges ED probe into 2019 deal with Future Group
3 years ago

Amazon challenges ED probe into 2019 deal with Future Group

India Today  

Amazon.com Inc is set to take the Enforcement Directorate to court over an ongoing investigation related to the US e-commerce giant’s 2019 deal with Future Group. On Wednesday, Amazon approached the Delhi High Court with an appeal to quash the ED investigation related to its $200 million investment in Future Coupons Private Limited. In the court filing, Amazon has called …

ED summons Amazon, Future Group executives in FEMA probe
3 years ago

ED summons Amazon, Future Group executives in FEMA probe

The Hindu  

The Enforcement Directorate has summoned senior executives of Amazon India, including its country head Amit Agarwal, and that of the Future group for questioning in a foreign exchange violation probe linked to the disputed deal between the two conglomerates, official sources said on November 28. Amazon India head Agarwal, some other senior officials of the company and those of the …

ED summons top management of Amazon and FCPL over their 2019 deal
3 years ago

ED summons top management of Amazon and FCPL over their 2019 deal

Op India  

The Enforcement Directorate has summoned the top management of Amazon Inc. and Future Coupons Pvt Ltd. for questioning and verification of documents in connection with their August 2019 deal. Amazon founded by Jeff Bezos has been opposing the proposed Rs 24,700 sale of assets of Future Retail to Mukesh Ambani led Reliance Industries Ltd, alleging breach of control. Amazon contested …

After anti-nation Infosys row, Panchjanya calls Amazon East India Company 2.0
3 years, 2 months ago

After anti-nation Infosys row, Panchjanya calls Amazon East India Company 2.0

Firstpost  

The RSS-linked weekly has claimed that the e-commerce giant wants to establish its monopoly in the Indian market by seizing economic, political and personal freedom of the Indian citizens New Delhi: E-commerce major Amazon has been termed as “East India Company 2.0” by the RSS-linked weekly, Panchjanya, which has also alleged that the firm has paid crores of rupees in …

India to expedite Amazon, Flipkart antitrust probe as tech focus intensifies
3 years, 6 months ago

India to expedite Amazon, Flipkart antitrust probe as tech focus intensifies

The Hindu  

India's antitrust watchdog plans to expedite a restarted probe into allegations of anti-competitive behaviour at Amazon.com Inc and Walmart Inc's Flipkart, as it intensifies scrutiny of big-tech firms, two people close to the matter said. The Competition Commission of India initiated a probe in January last year on the basis of a complaint alleging Amazon and Flipkart promoted select sellers …

India to expedite Amazon, Flipkart antitrust probe as tech focus intensifies: Report
3 years, 6 months ago

India to expedite Amazon, Flipkart antitrust probe as tech focus intensifies: Report

Hindustan Times  

India's antitrust watchdog plans to expedite a restarted probe into allegations of anti-competitive behaviour at Amazon.com Inc and Walmart Inc's Flipkart, as it intensifies scrutiny of big-tech firms, two people close to the matter said. The probe into Amazon and Flipkart is restarting at a time when both are battling accusations from offline retailers that their complex business structures allow …

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. …

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 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 …

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 …

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