Reported 13 days ago
India's financial crime agency plans to summon executives from Amazon and Flipkart amidst increasing regulatory scrutiny over alleged violations of foreign investment laws. This follows recent raids on certain sellers linked to these e-commerce giants. Allegations suggest that both companies may have favored select sellers and exerted control over inventory, despite Indian laws prohibiting foreign players from holding such inventory directly. The agency is also reviewing business data from the sellers over the past five years.
Source: YAHOO