New Delhi: American e-commerce giant heroineSources said India is called for an investigation into alleged bribes paid by its legal representatives, which spent Rs 8,546 crore or $1.2 billion in legal expenses during 2018-20 to maintain a presence in the country.
Sources with knowledge of the firm’s public account filings said that Amazon’s six units- Amazon India Ltd (Holding Company), Amazon Retail India Pvt Ltd, Amazon Seller Services Pvt Ltd, Amazon Transportation Services Pvt Ltd, Amazon Wholesale (India) Pvt Ltd, and Amazon Internet Services Pvt Ltd (AWS) – made ₹3,420 crore in India during 2018. Paid Rs. -19 and Rs 5,126 crore for legal fees during 2019-20.
Amazon is locked in a legal battle over its acquisition of Future Group and is facing investigation by the Competition Commission of India (CCI).
While the company declined to comment on the legal fee issue, merchants body CAIT’s claim that Amazon was spending 20 percent of its revenue on lawyers was dubious.
CAIT National General Secretary Praveen Khandelwal wrote to Commerce Minister Piyush Goyal, “The huge amount spent under legal professional fees clearly shows how Amazon and its subsidiaries are trying their best to bribe and manipulate Indian government officials.” Misusing financial power.”
He demanded a CBI inquiry without producing any evidence for his claim.
A MorningContext report on Monday said that Amazon has launched an investigation against some of its legal representatives for allegedly bribing Indian government officials. Its senior corporate lawyer has reportedly been sent on leave in this case.
The company had said that it takes allegations of unfair practices seriously and conducts a thorough investigation to take appropriate action. While it did not confirm or deny the allegations, Amazon did say it has “zero tolerance for corruption”.
“Which company across the globe remains in business spending more than 20 percent of its earned revenue on paying lawyers and that too is making loss year after year, but yes it is the global e-commerce company in India? Taylor is Amazon who is a living example of this temperamental acrimony,” Kat alleged on Tuesday.
Khandelwal claimed in a statement that Amazon has “spent about Rs 8,500 crore on legal and professional fees in the two years (2018-20) against a turnover of about Rs 45,000 crore.”
Amazon is facing an investigation by India’s fair trade watchdog CCI for alleged anti-competitive practices, predatory pricing and preferential treatment of sellers.
The US-based firm has also been locked in a legal dispute with Future Group. Amazon is striking a Rs 24,713 crore deal between Future Group and Reliance Retail Ventures Ltd and has pulled Future Group to the Singapore International Arbitration Center (SIAC). It has argued that Future has breached the contract by making a deal with rival Reliance.
Amazon and Future Group had also filed lawsuits on the issue in Indian courts, including the Supreme Court.
Amazon is an investor in Future Coupons, which in turn is a shareholder in Future Retail Ltd.
Sources with knowledge of the firm’s public account filings said that Amazon’s six units- Amazon India Ltd (Holding Company), Amazon Retail India Pvt Ltd, Amazon Seller Services Pvt Ltd, Amazon Transportation Services Pvt Ltd, Amazon Wholesale (India) Pvt Ltd, and Amazon Internet Services Pvt Ltd (AWS) – made ₹3,420 crore in India during 2018. Paid Rs. -19 and Rs 5,126 crore for legal fees during 2019-20.
Amazon is locked in a legal battle over its acquisition of Future Group and is facing investigation by the Competition Commission of India (CCI).
While the company declined to comment on the legal fee issue, merchants body CAIT’s claim that Amazon was spending 20 percent of its revenue on lawyers was dubious.
CAIT National General Secretary Praveen Khandelwal wrote to Commerce Minister Piyush Goyal, “The huge amount spent under legal professional fees clearly shows how Amazon and its subsidiaries are trying their best to bribe and manipulate Indian government officials.” Misusing financial power.”
He demanded a CBI inquiry without producing any evidence for his claim.
A MorningContext report on Monday said that Amazon has launched an investigation against some of its legal representatives for allegedly bribing Indian government officials. Its senior corporate lawyer has reportedly been sent on leave in this case.
The company had said that it takes allegations of unfair practices seriously and conducts a thorough investigation to take appropriate action. While it did not confirm or deny the allegations, Amazon did say it has “zero tolerance for corruption”.
“Which company across the globe remains in business spending more than 20 percent of its earned revenue on paying lawyers and that too is making loss year after year, but yes it is the global e-commerce company in India? Taylor is Amazon who is a living example of this temperamental acrimony,” Kat alleged on Tuesday.
Khandelwal claimed in a statement that Amazon has “spent about Rs 8,500 crore on legal and professional fees in the two years (2018-20) against a turnover of about Rs 45,000 crore.”
Amazon is facing an investigation by India’s fair trade watchdog CCI for alleged anti-competitive practices, predatory pricing and preferential treatment of sellers.
The US-based firm has also been locked in a legal dispute with Future Group. Amazon is striking a Rs 24,713 crore deal between Future Group and Reliance Retail Ventures Ltd and has pulled Future Group to the Singapore International Arbitration Center (SIAC). It has argued that Future has breached the contract by making a deal with rival Reliance.
Amazon and Future Group had also filed lawsuits on the issue in Indian courts, including the Supreme Court.
Amazon is an investor in Future Coupons, which in turn is a shareholder in Future Retail Ltd.
.