ED Summons Amazon, Future Group Personnel: Report


ED Summons Amazon, Future Group Personnel: Report

The Enforcement Directorate has issued summons to officials of Amazon and Future Group

The Enforcement Directorate (ED) has summoned officials of Amazon.com Inc. and its rival Future Group in a case of alleged breach of foreign investment rules.

An Amazon spokesman told Reuters on Sunday that Amazon had received a summons issued by ED regarding the Future Group.

“Now that we have the summons, we are investigating it and will respond within the given timeframe,” the spokesman said.

ED is investigating whether Amazon violated foreign investment laws when it invested $ 200 million in Future Coupons, a gift voucher unit for Future in 2019.

The deal has been the focus of ongoing legal disputes between the two companies.

Two senior executives of Future Group have been summoned to appear before the Directorate of Enforcement in the week of December 6, a source directly acquainted with the matter told Reuters, who declined to be named because the matter was not made public.

At least two Amazon India executives, including the legal head of Amazon India, have been summoned, another source said.

Spokesmen for the Future Panel and the Directorate of Enforcement did not immediately respond to requests for comment.


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