Amazon Wholesale (India) Private Limited, and Amazon Seller Services Private Limited have preferred a writ petition in Delhi High Court challenging the jurisdiction of Enforcement Directorate (ED) and its officers to investigate in matters that are beyond the scope of power and remit of the ED under the Foreign Exchange Management Act, 1999 (FEMA).
Amazon Wholesale (India) Private Limited, and Amazon Seller Services Private Limited have preferred a writ petition in Delhi High Court challenging the jurisdiction of Enforcement Directorate (ED) and its officers to investigate in matters that are
Amazon Wholesale (India) Private Limited, and Amazon Seller Services Private Limited have preferred a writ petition in Delhi High Court challenging the jurisdiction of Enforcement Directorate (ED) and its officers to investigate in matters that .
December 24, 2020
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Amazon Seller Services Private Limited, which is Amazon’s e-commerce business in India, reported ₹11,028 crore in revenues for financial year 2019-20, a 42 per cent jump since the last financial year.
The business reported a net loss of ₹5,849 crore during the same fiscal, which is a 3 per cent increase from the last financial year, as per data sourced from Toffler. An intensely competitive market landscape took Amazon’s expenses for the fiscal to ₹16,877 crore.
The e-tailer which started the year with 5.5 lakh sellers in January, added 1.5 lakh sellers and will exit 2020 with over 7 lakh sellers who sell millions of products to customers in India; 50 per cent of these sellers come from Tier 2 and 3 towns.