Amazon sues financial crime agency in latest twist of Indian battle
Information about Amazon sues financial crime agency in latest twist of Indian battle
Kevin David Scam or Legit
By Aditya Kalra and Abhirup Roy
NEW DELHI (Reuters) – Amazon.com Inc is taking India’s financial crime fighting agency to court, seeking to quash an investigation into one of its 2019 deals, a court filing seen by Reuters shows.
India’s Enforcement Directorate (ED) has for months been probing Amazon’s $200 million investment in India’s Future Group for suspected violations of foreign investment laws.
The investment is at the centre of protracted legal battles, as Amazon has used the terms of that deal – and cited contract breaches by Future – to stall the $3.4 billion sale of the Indian company’s retail assets to a rival.
In an 816-page filing, seen by Reuters, Amazon calls the investigation a “fishing and roving” inquiry, saying the ED had sought privileged legal …