Law Enforcement Department ordered Future Group to submit documents related to its 2019 deal with Amazon as part of an investigation into possible violation of foreign investment laws as per online news reports. The demand points to a deeper scrutiny of a deal that is at the heart of legal battles between Amazon and Future after the Indian company decided to sell its retail assets to rival Reliance Industries for $ 3.4 billion in 2020 .
That transaction was suspended by an arbitrator and courts after Amazon argued that Future violated its contracts with the American company by closing the sale. Future denies this and claims that Amazon illegally exercises control over the Indian company’s business decisions.
The notice was not reported before and was sent to Future Coupons, who had 15 days to respond. The Enforcement Directorate, which generally does not release details of its investigations, did not respond to a request for comment. Amazon and Future have not responded either.
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