Senior executives of Amazon and future group being summoned by ED in FEMA probe

  • 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 Sunday.
  • Amazon India head Agarwal, some other senior officials of the company and those of the Future Group have been called, the sources said.
  • Amazon and Future Group have been battling it out in courts after the Kishore Biyani-led group in August last year agreed to sell its assets to billionaire Mukesh Ambani’s Reliance Retail on a slump sale basis for Rs 24,500 crore.
[Via]

Download NBW: Short news app created for busy professionals like you

Get NBW App - a reimagined fluid short news experience that delivers you clarity and all the important news and trends from your industry. No signup needed !

Download NBW App (Android, iOS)

Sign Up for NextBigWhat Newsletter

Daily.