Type to search

Indian Officials Summon Amazon, Future Group Over 2019 Deal

India’s economic crime-fighting agency have summonsed officials of Amazon and its warring partner Future Group in a case related to alleged violation of foreign investment rules

Amazon and Future Group have been locked in legal battles after Future's bid to sell assets to Reliance. Deals are now being probed by Enforcement Directorate officials. Photo: Reuters.


India’s economic crime-fighting agency have 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 said on Sunday.

“As we have just received the summons, we are examining it and will respond within the given timeframe,” the spokesperson said.

The Enforcement Directorate has been investigating 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 December 6, a source with direct knowledge of the matter said, 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.


• Reuters with additional editing by Jim Pollard




India’s Supreme Court Backs Amazon in Future Retail Case: BS

Amazon ‘Concealed Facts’ in Future Deal Claims Indian Watchdog

Amazon wins court block on Future’s asset sell-off

Amazon-Ambani fight for Future Group just starting, lawyers say



Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years.


AF China Bond