India's law enforcement agency summons Amazon, Future Group officials over 2019 deal

Future Retail

28/11/2021 05:35

NEW DELHI, Nov 28 (Reuters) - India's economic
crime-fighting agency summoned officials of Amazon.com Inc
 and its warring partner Future Group in a case related
to alleged violation of foreign investment rules, according to
sources with direct knowledge of the matter.
    Amazon received a summons issued by India's Enforcement
Directorate in connection with the Future Group, an Amazon
spokesperson told Reuters on Sunday.
    "As we have just received the summons, we are examining it
and will respond within the given time frame," the spokesperson
said. 
    The Enforcement Directorate has been investigating https://www.reuters.com/world/india/exclusive-indian-agency-seeks-documents-future-disputed-amazon-deal-2021-11-08
 whether there were any violations of foreign investment laws
when Amazon made a $200 million investment in Future's gift
voucher unit, Future Coupons, in 2019. The deal is at the heart
of ongoing legal disputes between the two firms. 
    At least two senior Future Group executives have been
summoned to appear before the Enforcement Directorate in the
week of Dec. 6, a source with direct knowledge of the matter
told Reuters, declining to be named as the matter was not
public.
    At least two Amazon India executives, including its legal
head, have also been summoned, another source with knowledge of
the matter said. 
    Spokespersons for the Future Group and the Enforcement
Directorate did not immediately respond to requests for comment.

 (Reporting by Aditya Kalra and Zeba Siddiqui in NEW DELHI;
Editing by Simon Cameron-Moore)
 ((zeba.siddiqui@thomsonreuters.com))