ED shifts focus to Amazon and Flipkart ties with sellers
The aim is to find out if the ecommerce companies were exercising control over vendors. Under the rules, they can only act as platforms.
ED is investigating alleged violations under the Foreign Exchange Management Act (Fema) that are ordinarily civil offences entailing monetary penalties. Earlier this month, the agency conducted nationwide searches at 19 sites related to large sellers on Amazon and Flipkart in New Delhi, Bengaluru and Hyderabad.
“The sellers covered during the searches were summoned and have been questioned to explain certain transactions and arrangements. Documents are being studied thoroughly,” said an official with knowledge of the matter. “The main focus is to ascertain whether Amazon and Flipkart operated through a preferred set of sellers, which were invariably controlled by them but disguised as independent vendors, thus violating FDI norms.”
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