According to information received from sources, the Central Investigation Agency Enforcement Directorate (ED) has taken a major action against e-commerce companies Amazon and Flipkart. ED started a search operation against several affiliate companies of Amazon and Flipkart and raided more than 20 locations in Delhi, Hyderabad, Bangalore and Mumbai.
FEMA violation case
This major action of ED is being taken in the case of FEMA violation of about Rs 50,000 crore. ED has registered a case of FEMA violation against Amazon and Flipkart. According to sources of the investigating agency, it is alleged that these two companies have sold goods through their subsidiaries, under which this violation has taken place.
The names of the associate companies of Amazon and Flipkart are…
1.Appario Retail
2. Sriyas Retail
3. Darshita Retail
4. Ashiana Retail
The action was also taken on Wednesday
On Wednesday, based on a complaint of financial irregularities, the ED conducted a major raid at five places including the premises of a prominent chartered accountant in Bhopal. At six in the morning, raids were conducted at five places including his residence and company office in Arera Colony.