News > ED books Amazon to probe alleged FEMA, FDI violations

ED books Amazon to probe alleged FEMA, FDI violations

The Enforcement Directorate (ED) has registered a case against US e-commerce giant Amazon to investigate an alleged violation of India’s foreign exchange and foreign direct investment laws.

The investigation is based on a recent Delhi High Court observation that the US-based Amazon’s attempt to control Future Retail through a conflation of agreements it has with an unlisted unit of an Indian company without government’s approval will be considered a violation of FDI (foreign direct investment) rules and FEMA.