Kishore Biyani (FRL) appears in Forex Violation probe before 'Enforcement Directorate (ED)'
06 December 2021, Mumbai:
It is learned that while questioning Biyani, officials carried out cross-verification of a slew of documents including the emails and correspondence between Future and Amazon before and after they entered into a commercial pact two years ago.
Future Group founder and chief executive officer Kishore Biyani appeared before the Enforcement Directorate (ED) here on Monday in connection with a 2018 deal with Seattle-based Amazon.com Inc, as part of its probe into possible violation of forex rules.
Biyani arrived at the central agency's Khan Markt headquarter shortly before his scheduled appearance time of 11 am, said a person privy to the developments.
This follows summons by the ED to the Future Group's management including its chief executive officer Bayani on November 26, seeking to produce documents and record statements under the Foreign Exchange Management Act (FEMA).
ET (The news article has not been edited by DFU Publications staff)
Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.
DAILY NEWS:
- Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul
- Consumers will determine growth of sustainable fashion e-comm in India
- Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'
- Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22
- Nike strengthens retail presences with new store at DLF Mall of India,Noida
