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Amazon had bought 49 per cent stake in Future Group in a Rs 1,400 crore deal
New Delhi:
Amazon India head Amit Agarwal has been summoned by the Enforcement Directorate next week over alleged irregularities in a deal with Future Group. Amazon had bought 49 per cent stake in Future Group in a deal worth some Rs 1,400 crore in 2019.
The Enforcement Directorate’s angle in the case is to see whether the deal violated India’s law on foreign exchange, or the Foreign Exchange Management Act, which outlines the formalities and procedures for all such transactions in the country.
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