Photo: Legal Era
Enforcement Directorate Summons Amazon, Future Group Officials
The officials of Amazon.com and Future Group have been summoned by India's Enforcement Directorate to appear before it in the week of December 6. The summon have been issued in alleged violation of foreign investment rules. The violation is related to a $200 million investment of Amazon in Future's gift voucher unit, Future Coupons, in 2019. '''We'll respond within the given time frame,'' said an Amazon spokesperson.
Tags: Amazon, Future Group, Enforcement Directorate, Foreign Investment, Violation
Courtesy: Reuters
Photo: The Week
Future Group Shares Dip By 10% Following Asset Sale Blockade
Following the Delhi High Court's recent direction in Reliance-Future deal case, shares of Future Retail on March 19 plummeted nearly 10% to Rs 55.90. Stocks of sister companies like Future Consumer, Future Lifestyle Fashions and Future Enterprises also tumbled by 8-10%. Recently, the court ordered blockade on sale of Future Retail CEO Kishore Biyani's personal assets. Earlier, India's second-largest retailer Future had signed a Rs 24,713-… read-more
Tags: Future Group, Reliance Industries, Amazon, Retail Market
Courtesy: Deccan Herald
