The Enforcement Directorate (ED): Amazon India, V-P summoned in Forex case
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The Enforcement Directorate (ED) has summoned Amazon India vice-president Manish Tiwary next week to its Delhi headquarter in connection with the forex norms violation case against the e-commerce major, said people in know.
The agency is looking into alleged violation of the Foreign Exchange Management Act (FEMA) when Amazon invested ₹1,431 crores to purchase 49% in Kishore Biyani-led Future Coupons Pvt Ltd (FCPL) in 2019 and if it complied with all the applicable regulations.
"He was asked to make a personal appearance as country head Amit Agrawal, who is currently in the US, refused to join the probe citing his limited role in the matter," said an official. Agrawal, who was asked to appear on December 7, had on that day excused himself saying he had moved to the US.
(The news article has not been edited by DFU Publications staff)
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