INSUBCONTINENT EXCLUSIVE:
Enforcement Directorate has summoned officials of Amazon and Future GroupThe Enforcement Directorate (ED) summoned officials of Amazon.com
Inc and its warring partner Future Group in a case related to supposed infraction of foreign investment guidelines, according to sources
with direct understanding of the matter.Amazon got a summons provided by ED in connection with the Future Group, an Amazon representative
As we have actually simply gotten the summons, we are analyzing it and will react within the provided time frame, the representative
said.ED has been examining whether there were any offenses of foreign financial investment laws when Amazon made a $200 million investment
in Future's gift voucher system, Future Coupons, in 2019
The offer is at the heart of continuous legal disputes in between the two firms.At least 2 senior Future Group executives have actually been
summoned to appear before the Enforcement Directorate in the week of December 6, a source with direct understanding of the matter told
Reuters, declining to be named as the matter was not public.At least 2 Amazon India executives, including its legal head, have likewise been
summoned, another source with knowledge of the matter said.Spokespersons for the Future Group and the Enforcement Directorate did not
immediately react to requests for comment.
