NEW DELHI: The Enforcement Directorate (ED) on Thursday launched a series of searches across India targeting certain vendors operating on major e-commerce platforms Amazon and Flipkart , according to PTI sources.
The raids, part of an ongoing probe under the Foreign Exchange Management Act (FEMA), spanned multiple locations, including Delhi, Gurugram, Hyderabad, and Bengaluru.
According to officials, the investigation focuses on the financial transactions of specific "preferred" vendors and sellers who use these e-commerce giants for their business operations. The ED aims to uncover potential violations linked to foreign exchange laws through these financial dealings.
Amazon and Flipkart have faced regulatory scrutiny in India over alleged unfair business practices. Recently, a probe by the Competition Commission of India (CCI) reportedly found both companies in breach of local competition laws, accused of giving preferential treatment to selected sellers on their platforms, according to a Reuters report in September.
ED investigation comes amid increased government vigilance over the operations of foreign e-commerce entities in India, particularly regarding regulatory compliance and fair market practices.
The raids, part of an ongoing probe under the Foreign Exchange Management Act (FEMA), spanned multiple locations, including Delhi, Gurugram, Hyderabad, and Bengaluru.
According to officials, the investigation focuses on the financial transactions of specific "preferred" vendors and sellers who use these e-commerce giants for their business operations. The ED aims to uncover potential violations linked to foreign exchange laws through these financial dealings.
Amazon and Flipkart have faced regulatory scrutiny in India over alleged unfair business practices. Recently, a probe by the Competition Commission of India (CCI) reportedly found both companies in breach of local competition laws, accused of giving preferential treatment to selected sellers on their platforms, according to a Reuters report in September.
ED investigation comes amid increased government vigilance over the operations of foreign e-commerce entities in India, particularly regarding regulatory compliance and fair market practices.
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