Amazon has moved Delhi High Court against Enforcement Directorate to cancel its investigation into the 2019 deal with Future Group for alleged violations of foreign investment rules.
Amazon accused the investigative agency for overreach and asked the court to halt the probe and stop it from issuing summons.
Amazon has also sought the Delhi High Court’s advice on the reasons behind ED expanding its scope and powers in the probe and summons to its executives who aren’t connected to or aren’t aware of the Future-Amazon transactions to testify in person.
The ED has for months been probing Amazon’s Rs 1,430 crore investment in 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 Future Group from selling its assets to Mukesh Ambani’s Reliance Retail for Rs 24,500 crore, NDTV reported.
Amazon has moved Delhi High Court against Enforcement Directorate to cancel its investigation into the 2019 deal with Future Group for alleged violations of foreign investment rules. Amazon accused the investigative agency for overreach and asked the court to halt the probe and stop it from issuing summons. Amazon has also sought the Delhi High Court’s advice on the reasons behind ED expanding its scope and powers in the probe and summons to its executives who aren’t connected to or aren’t aware of the Future-Amazon transactions to testify in person. The ED has for months been probing Amazon’s Rs 1,430 crore investment in 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 Future Group from selling its assets to Mukesh Ambani’s Reliance Retail for Rs 24,500 crore, NDTV reported.