The Enforcement Directorate has raided multiple vendors linked to major e-commerce platforms, including Amazon and Flipkart. According to reports, the ED on Thursday investigated vendors at at least 15-16 locations as part of the FEMA (Foreign Exchange Management Act) investigation. Earlier, officials told Hindustan Times that the antitrust probe by the Competition Commission of India (CCI) revealed violations by the e-commerce giants, namely Amazon and Flipkart. According to the findings, these companies prioritized listings and sellers and engaged in steep discounts that helped big names like Apple and Samsung, while local brick-and-mortar retailers were hit by the online offers. Meanwhile, the ED’s ongoing action against certain Amazon-Flipkart sellers is related to financial transactions, according to PTI. As part of the FEMA investigation, multiple locations were searched, including Gurugram (Haryana), Delhi, Bengaluru (Karnataka) and Hyderabad (Telangana). The CCI has been investigating Amazon and Flipkart since 2020 and recently indicted the two companies in separate reports for enabling an unbiased environment for preferred sellers that harms healthy competition.
The #Enforcement Directorate searches conducted against some sellers who do #company on e-commerce giants like #Amazon, #Flipkart as part of one #FEMA investigation, official sources say.
Read more: pic.twitter.com/veZzLKECPD— Hindustan Times (@htTweets) November 7, 2024
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ED is conducting a pan-India search for e-commerce players
ED conducts searches on e-commerce platforms such as Amazon and Flipkart
ED conducts investigations into subsidiaries of e-commerce players
About 2 dozen locations…— Chandra R. Srikanth (@chandrarsrikant) November 7, 2024
More details were expected.
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