We take allegations of improper actions seriously, investigate them fully: Amazon

#Amazon, #Business, #Companies

In the four-page letter, a so-called ‘show cause notice’, the CCI asked Amazon why it should not take action and penalise the company for providing false information. (File Image)

Amid reports of Amazon probing bribery-related charges against some of its legal representatives in India, the US e-commerce giant on Monday said it takes allegations of improper actions seriously and investigates them fully to take appropriate action.

Without confirming or denying allegations, Amazon said it has “zero tolerance for corruption”.

According to a report by The Morning Context, Amazon has initiated an investigation against some of its legal representatives for allegedly bribing Indian government officials. Its senior corporate counsel has reportedly been sent on leave in this matter.

When contacted, an Amazon spokesperson said: “We have zero tolerance for corruption. We take allegations of improper actions seriously, investigate them fully, and take appropriate action. We are not commenting on specific allegations or the status of any investigation at this time”.

A person aware of the development said US-headquartered companies such as Amazon take whistleblower complaints seriously, especially those related to payment of bribes to foreign government officials in order to retain or obtain business. This is also to ensure compliance with corporate governance rules.

The development comes at a time when Amazon is facing a probe by fair trade watchdog, Competition Commission of India (CCI), for alleged anti-competitive practices, predatory pricing and preferential treatment of sellers.

Amazon is also locked in a legal tussle with Future Group. Amazon is contesting the Rs 24,713 crore deal between Future Group and Reliance Retail Ventures Ltd and has dragged Future Group to the Singapore International Arbitration Centre (SIAC). It has argued that Future violated the contract by entering into the deal with rival Reliance.

Amazon and Future Group had also filed litigations in Indian courts, including the Supreme Court, on the issue.

Amazon is an investor in Future Coupons, that in turn is a shareholder in Future Retail Ltd.

Internet Explorer Channel Network
News Related

OTHER NEWS

TVS Motor loses production of 25,000 Apache bikes amid chip shortages 

TVS Motor Company suffered a production loss of 25,000 units of its premium Apache range of motorcycles in the September quarter because of a semiconductor shortage that has squeezed the ... Read more »

Biocon consolidated net profit dips 18% to Rs 138 crore in Q2

Biotechnology major Biocon on Friday said its consolidated net profit declined by 18 per cent to Rs 138 crore for the second quarter ended September 30. The Bengaluru-based company had ... Read more »

Maharashtra reopening: Imagicaa, one of India's biggest theme parks, expects to reach pre-COVID-19 levels by FY23

After a long hiatus, theme parks in Maharashtra will reopen after the state government allowed amusement parks to restart operations from October 22. One of India’s biggest theme parks, Imagicaa, ... Read more »

Neue Aktie an der Börse - Wie bewertet man ein Unternehmen vor dem IPO?

Börsengänge können sich für Investoren als durchaus lohnenswert erweisen, trotzdem besteht immer auch das Risiko einer schmerzhaften Fehlinvestition. Um dies zu verhindern, sollten gerade Privatanleger die notwendigen Bewertungskriterien kennen. © ... Read more »

Evergrande financial crisis | Struggling Chinese developer makes bond payment: Report

Image: Reuters Evergrande, the troubled Chinese developer whose struggle to avoid a multibillion-dollar debt default has rattled global financial markets wired $83.5 million on October 22 to make an overdue ... Read more »

Amazon app quiz October 22, 2021: Get answers to these five questions to win Rs 5,000 in Amazon Pay balance

Body: Win Rs 5,000 in your Amazon Pay balance today! You just have to answer 5 questions and a bit of luck. Amazon is back with its daily dose of ... Read more »

India's central bank puts up a puzzling obstacle to a payments system, again

Digital businesses are helplessly losing their Indian customers. And nobody knows how many will eventually return and after how long. From smartphone apps to websites, anyone with a regular, card-based ... Read more »

Dorinda Medley's guide to Halloween party decorations

© Lucid Candle Lucid Black Dinner Candle Dorinda Medley, who during her six seasons on Bravo’s “The Real Housewives of New York City,” made a name for herself as Miss ... Read more »

¿Por qué debo esperar una semana para ver Succession cuando vivimos en la era de la gratificación instantánea?

© Proporcionado por Independent en Español Sucesión Esta semana vio el regreso de una tercera temporada del programa de televisión “Succession”, una historia de King Lear brillantemente ejecutada, oscura y ... Read more »

Workers fed up with nights, weekends seek flexible schedule

Balsam Hill Outlet sales associate Rickey Haynes, right, listens to manager Kelly Bratt during training in Allen, Texas. The company has struggled to find employees willing to work weekends. AP ... Read more »

The Federal Reserve will ban policymakers from buying individual stocks following trading controversy

© Kevin Lamarque/Reuters Federal Reserve Board Chair Jerome Powell. Kevin Lamarque/Reuters Federal Reserve policymakers will no longer be able to purchase individual securities as part of rule changes outlined Thursday. ... Read more »

Amazon kręci. Wykorzystuje Windowsa i fałszuje obraz, by rzucić wyzwanie Google'owi

© Provided by Spider’s Web windows 11 android polska Już niedługo Windows 11 zyska możliwość uruchamiania aplikacji na otwartą wersję Androida. Domyślnym źródłem aplikacji ma być Amazon Appstore. Jest tylko ... Read more »

Bid to unionize Amazon workers in New York nears milestone

NEW YORK (AP) — A bid to unionize Amazon workers at a distribution facility in New York City neared an important milestone, as organizers prepared to deliver hundreds of signatures ... Read more »

These $14 Cleaning Wipes Are So Durable, You Can Use Them to Scrub Out Carpet Stains in 30 Seconds

© Provided by Real Simple amazon.com There’s a reason storage bins and under-the-sink organizers are so popular: We’re forced to buy multiple cleaning products for all of life’s messes. At ... Read more »

LIC Housing Finance Q2 net profit down 69% to Rs 247.86 crore on higher provisioning for bad loans

Mortgage lender LIC Housing Finance Ltd (LICHFL) on Thursday reported a 68.66 percent decline in its standalone profit after tax at Rs 247.86 crore in the September quarter on higher ... Read more »

Bharti Airtel's Rs 21,000 crore rights issue subscribed 1.44 times

Bharti Airtel rights issue to raise up to Rs 20,987.39 crore has been subscribed 1.44 times, the company said on Thursday. “Based on preliminary information received, we wish to inform ... Read more »

Barack Obama and Bruce Springsteen on race, friendship, and the influence of fathers

Former President Barack Obama and 20-time Grammy-winning singer-songwriter Bruce Springsteen talk about race, politics, Springsteen’s relationship with bandmate Clarence Clemons, and more, in an interview for “CBS Sunday Morning” and “CBS Mornings,” ... Read more »

Macrotech Developers Q2 profit at Rs 223 crore; total revenue jumps over two-fold at Rs 2,201 crore

Realty firm Macrotech Developers Ltd on Thursday reported its consolidated net profit at Rs 223.36 crore for the quarter ended September. The company had posted a net loss of Rs ... Read more »

South Indian Bank reports net loss of Rs 187 crore in Q2 on higher bad loans

Private sector South Indian Bank (SIB) on Thursday reported a net loss of Rs 187 crore for the September quarter, hit by higher bad loans. The Kerala-based lender had posted ... Read more »

Amazon to increase annual Prime membership fee to Rs 1,499, monthly fee at Rs 179

Amazon is set to increase the price of the annual membership of its Prime programme in India by 50 per cent to Rs 1499. Monthly and a quarterly fee of ... Read more »

U.S. consumer watchdog orders tech giants turn over information on payment systems

The seal of the Consumer Financial Protection Bureau (CFPB) is seen at their headquarters in Washington, D.C. WASHINGTON (Reuters) – The Consumer Financial Protection Bureau (CFPB) on Thursday said it ... Read more »

Reliance shareholders approve appointment of Aramco Chairman Yasir Al-Rumayyan on board

Shareholders of Reliance Industries have approved the appointment of Saudi Aramco Chairman Yasir Al-Rumayyan on the company board, with less than 2 per cent of votes cast against the proposal. ... Read more »

Crypto startup FTX Trading valued at $25 billion after mega funding round

Representative image Crypto firm FTX Trading raised fresh capital at a valuation of $25 billion from a clutch of big-name venture capital investors, making it one of the most richly-valued ... Read more »

Syngene International Q2 net dips 21% to Rs 67 crore

Contract research, development and manufacturing services provider Syngene International on Thursday reported a 20.8 percent decline in its consolidated net profit at Rs 66.7 crore for the second quarter ended ... Read more »

Tech leads stocks lower in early trading on Wall Street

Source: Reuters Stocks are off to a mostly lower start on Wall Street Thursday, a day after the S&P 500 and the Dow Jones Industrials approached the record highs they ... Read more »

GAIL to build India's largest green hydrogen plant in 12-14 months

State-owned GAIL (India) Ltd will build India’s largest green hydrogen plant in the next 12-14 months, as it looks to supplement its natural gas business with carbon-free fuel. Speaking at ... Read more »

Tesla looks to pave the way for Chinese battery makers to come to US

Tesla Inc wants to shift to a less expensive battery for its electric vehicles but first needs to figure out how to overcome political tensions to get a Chinese partner ... Read more »

With recovery widening, ICRA sees Q2 GDP at 7.7%

With half of the 15 high-frequency indicators recovering to the pre-pandemic levels in the second quarter, the economy finally looks nearly out of the pandemic woods, helping the Q2 GDP ... Read more »

Aldi Black Friday deals 2021: When the sale starts and what deals to expect on Nintendo, Apple and more

The budget supermarket is expected to slash prices on big-ticket items such as the Nintendo Switch and Apple AirPods (iStock/The Independent) The countdown to Black Friday, the sale which is ... Read more »

TVS Motor to set up new electric vehicle company, add new EVs

Representative Image TVS Motor Company is pushing the pedal further in the electric vehicle (EV) space as its board has given the nod to set up a new company for ... Read more »

Coal shortage: 59 thermal power plants have less than four days of fuel stocks

Coal shortage at thermal power plants is lingering on, with 59 non-pit head projects having the dry fuel stocks for less than four days as on Wednesday, according to official ... Read more »

Foodpanda partners with Indian cloud kitchen firm Rebel Foods

Source: Reuters Online takeaway delivery firm Foodpanda is partnering with Indian virtual kitchen company Rebel Foods to roll out the latter’s virtual restaurant brands at 2,000 outlets across ten Asian countries, Foodpanda’s ... Read more »

Snap up these advent calendars while they're on sale

Act fast, Amazon has a sale on advent calendars. (Getty Images) Yahoo Life's editors are committed to independently selecting wonderful products at great prices for you. We may receive a ... Read more »

SEBI penalises 2 persons for violating insider trading norms in Mindtree case

Markets regulator SEBI on Thursday penalised two persons for violating insider trading norms with respect to shares of Mindtree Ltd. Through two separate orders, the watchdog imposed a fine of ... Read more »

Chinese regulators suggest Hong Kong listing for Didi: Report

Representative image China‘s cybersecurity watchdog suggested ride-hailing firm Didi Global Inc and two other U.S.-listed tech companies explore listings in Hong Kong, the Wall Street Journal reported on Thursday, citing ... Read more »

El borrador mágico: todo lo que puedes limpiar con él

© Redacción Cadena Dial Su nombre, borrador mágico, se debe a que elimina manchas que otros productos de limpieza no logran hacer desaparecer. Se trata de una especie de esponjita ... Read more »

Gold prices marginally dip to Rs 47,469/10 gm on global cues; silver touches Rs 65,000 a kg

Gold prices slightly eased by Rs 79 to Rs 47,469 per 10 gram in the Mumbai bullion market tracking muted global cues. The precious metal was also pressured by a ... Read more »

Amazon warehouse workers in Staten Island make union push

Workers are demanding Amazon to stop their union-busting practices and allow workers to use their rights to organize. Brendan McDermid/REUTERS More than 2,000 Amazon warehouse workers in Staten Island announced ... Read more »

Novartis signs new deal to help produce Pfizer/BioNTech vaccine

(Image: Reuters) Swiss pharmaceuticals giant Novartis said Thursday it has signed a new agreement to farm out some of its production facilities and help manufacture much-needed doses of the Pfizer-BioNTech coronavirus vaccine. Novartis has been using its ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic