ED summons Amazon to probe Future Coupons investment, says report

Amazon, which is trying to block Asia's richest man Ambani from taking over the struggling Future retail chain, alleged last week that money from the local firm may have been diverted to other firms

An Indian government agency has summoned Amazon.com Inc.’s top management in the country along with officials from Future Coupons Pvt Ltd. to query them about a botched deal, The Economic Times newspaper reported.
 

The Enforcement Directorate -- the agency that investigates offenses related to money laundering -- is examining whether Amazon was in breach of India’s foreign exchange laws when it invested 14.3 billion rupees ($191 million) to purchase a 49% stake in FCPL in 2019, the newspaper said. FCPL owns about 10% of Future Retail Ltd., the flagship entity that runs the Big Bazaar, Food Bazaar and Easyday chains.