India: India’s anti-money laundering agency summons Amazon

An Indian government agency has summoned 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 offences 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.

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