ED Summons Amazon India Chief in Probe On Deal with Future Group

E-commerce giant Amazon.

(Photo: The Quint)

The Enforcement Directorate (ED) has issued summons for Amit Agarwal, the head of Amazon India's operations, as well as other company officials for allegedly violating the Indian law on foreign investment in regard to its dealings with Future Group, NDTV reported.

Agarwal has reportedly been asked to appear before the agency next week.

"As we have just received the summons, we are examining it and will respond within the given time frame," an Amazon spokesperson told news agency Reuters.

The intelligence agency is probing Amazon's Rs 1,400 crore deal with Future Group, which granted the e-commerce giant 49 per cent stake in Future Retail in 2019.

In January, the ED had initiated the investigation under various sections of the Foreign Exchange Management Act (FEMA).

Another source told Reuters that two senior Future Group executives have also been summoned in the second week of December.

Future and Amazon have been locked in a legal tussle over the Future Group’s Rs 24,713 crore agreement with Reliance Industries, alleging that the deal breached some of Amazon’s pre-existing contracts with Future Group.