Amway sent Rs 8,000 crore to US, says Enforcement Directorate

DC | U SUDHAKAR REDDY
Published Jun 21, 2014, 8:17 am IST
Updated Apr 1, 2019, 12:00 am IST
ED have issued a show cause notice to Amway
 Amway CEO and MD William S. Pinckney. (Photo: DC/File)
  Amway CEO and MD William S. Pinckney. (Photo: DC/File)

Hyderabad: The Enforcement Directorate (ED) has issued a show cause notice to multi-level marketing giant Amway after it found that the company had repatriated Rs 8,000 crore to the United States from India.

A top official in the Enforcement Directorate said that the agency was probing Fema (Foreign Exchange Management Act) violations against Amway. “We have issued a show cause notice to Amway after completing the investigation. The violations regarding Fema are being looked into for the repatriation of Rs 8,000 crore in the past 10 years,” said the ED source.

 

Also Read: ED verifying if Amway violated foreign exchange laws

Also Read:  Amway seeks Modi government's help to release India head Pinckney

 

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