Future case: Amazon India head seeks more time from ED

Amazon India head Amit Agarwal did not appear before the Enforcement Directorate (ED) on Tuesday, seeking exemption from appearance as he is in the United States (US) at present. He is learnt to have sought more time from the federal agency.

The ED had summoned Agarwal in connection with Amazon’s disputed deal with Kishore Biyani-led Future Coupons Pvt Ltd (FCPL). The federal agency is likely to issue a fresh summons and ask him to appear within 15 days, said an official with knowledge of the matter.

Agarwal had sent an email to the ED on Tuesday informing the agency that he is unable to appear as he is travelling to the US. “We are issuing a fresh summons asking him (Agarwal) to appear within a stipulated deadline,” the official told ET.

The agency has also summoned other senior executives of Amazon India for questioning on Wednesday, December 8. “There has been no update or communication from the company on the appearance of their senior management. If they, too, fail to make it, the agency will give a fresh date for their appearance,” the official said.

An email sent to Amazon spokesperson did not elicit any response.

In the same matter, Future Group founder and chief executive officer Kishore Biyani had appeared before the ED on Monday. He has been asked to appear again on December 13 with some additional documents.

The directorate had issued summons to Amazon India management and Future Group promoters on November 26 following allegations of violation of the Foreign Exchange Management Act (FEMA) when the deal was executed.

The FEMA deals with foreign exchange-related contraventions and its violations are primarily treated as civil offences.

The federal agency is examining whether Amazon was in breach of the forex rules when it invested ₹1,431 crore to purchase a 49% stake in FCPL in 2019 and if it complied with all the applicable regulations.

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Future case: Amazon India head seeks more time from ED