The federal agency is examining whether Amazon was in breach of the Foreign Exchange Management Act (FEMA) when it invested Rs 1,431 crore to purchase a 49% stake in FCPL in 2019 and if it complied with regulations. FCPL owns about 10% of Future Retail Ltd (FRL), the flagship entity that runs the Big Bazaar, Food Bazaar and Easyday chains.from Industry-Economic Times
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