Skip to main content

Zero Tolerance” For Corruption: Government To Probe Amazon Bribe Charge

Allegations that Amazon’s legal representatives bribed officials in India are going to be investigated, the govt said today, stressing on a “zero-tolerance” policy towards corruption. The US e-commerce giant is additionally believed to possess launched a search into the allegation reported by a US website.

As far because the government of India cares there’s intolerance towards corruption of ANY kind within the government,” officials said.They said reports didn’t clarify “which era” the alleged act happened and during which stateAmazon has been spending quite ₹ 8,500 crore in legal fees. it’s time to think where all it is going. the entire system seems to figure on bribes which isn’t the simplest of business practices,” said officialdom , lashing out at Amazon and urging it to punish those breaking the law.

The officials cited the general public accounts of some Amazon companies, which showed nearly ₹ 8,500 crore in fee in two years.

According to a report by website The Morning Context, Amazon has launched an investigation against a number of its legal representatives after a whistleblower flagged allegations of bribing Indian officialdom . The company’s senior corporate counsel has reportedly been sent inactive .

The report said legal fees paid to an independent lawyer hired by the corporate was partially “funnelled into bribing government officials”.

Reports yesterday quoted Amazon as saying it takes allegations of improper actions seriously and investigates them fully to require appropriate action.

Without confirming or denying the allegations, Amazon said it’s “zero tolerance for corruption”.We have intolerance for corruption. We take allegations of improper actions seriously, investigate them fully, and take appropriate action. We aren’t commenting on specific allegations or the status of any investigation at this point ,” an Amazon spokesperson was quoted as saying by press agency PTI.

PTI quoted an unnamed person on the brink of the developments as saying that US-headquartered companies like Amazon take whistleblower complaints seriously, “especially those associated with payment of bribes to foreign officialdom so as to retain or obtain business”. this is often also to make sure compliance with corporate governance rules.

The Confederation of All India Traders (CAIT) has written to Union Commerce Minister Piyush Goyal demanding a CBI inquiry into the allegations, saying it involves the credibility of the govt and is counter to the vision of removing corruption in the least levels within the govt .

The traders’ body has also demanded that the officials involved be named and punished.CAIT said it might also approach the US Securities and Exchange Commission (SEC) Chairman Gary Gensler to demand a “fair and independent probe”.

CAIT National President BC Bhartia and Secretary General Praveen Khandelwal said it must be inquired whether the alleged bribery has “any reference to the continued investigation or related with continuous violation of the law and rules by Amazon”.

These steps, they said, were needed to guard the Indian e-commerce market and retail trade from “undue influence, abuse of dominance and connivance with government officials”, they added.

Amazon is already under the scrutiny of the Competition Commission of India over alleged anti-competitive practices, predatory pricing and preferential treatment of sellers.

Amazon is additionally legally fighting the longer term Group over its ₹ 24,713-crore affect its retail rival in India, Reliance Retail. Amazon is an investor in Future Coupons, which may be a shareholder in Future Retail.

Comments

Popular posts from this blog

SIP Schemes are there and whether you choose one

SIP permits you to invest a particular amount at regular intervals. It is a deliberate approach towards investments and assists you in the habit of saving and constructing wealth for the future. SIP Calculator assists you to calculate how tiny investments made at regular intervals can get you much better returns over a long span of time.  SIP With the equity markets on the increase, now is the correct time to make your money work for you.   You can find out the Best sip to invest for highest growth with the help of professionals. If you have a good knowledge in the world of mutual funds then you can make a choice for yourself after considerable exploration. But otherwise you can also take help of professionals who are there to guide the investors in picking the right funds. Before you get into any details you should know that SIP is done by the individuals to construct in their wealth, save for their future that too in the absence of any hassle. You can begin with as low as rupees five

How to Navigate the Enrollment Process for Individual Health Insurance Plans

Health insurance comes in different types and offers coverage against the increasing costs of medical treatments. However, there are some differences between individual health plans and family health plans. Understanding how these plans work can help you decide which one is more suitable for you.   When it comes to healthcare coverage, a health plan is designed to provide financial protection to a single person against medical expenses and hospitalisation costs. This type of plan can be purchased for oneself, spouse, children, or ageing parents. The premium rates for an individual health insurance plan are determined based on various factors such as age, gender, and medical history. These plans offer more comprehensive coverage that can be customised according to the policyholder's specific needs and health conditions. Additionally, policyholders can opt for add-ons to enhance the coverage of their individual insurance plan. Some Features of Healthcare Insurance Plans for Individ

What type of SIP Schemes are there and whether you choose one

SIP permits you to invest a particular amount at regular intervals. It is a deliberate approach towards investments and assists you in the habit of saving and constructing wealth for the future. SIP Calculator assists you to calculate how tiny investments made at regular intervals can get you much better returns over a long span of time.   With the equity markets on the increase, now is the correct time to make your money work for you.     You can find out the  Best sip to invest for highest growth  with the help of professionals. If you have a good knowledge in the world of mutual funds then you can make a choice for yourself after considerable exploration. But otherwise you can also take help of professionals who are there to guide the investors in picking the right funds. Before you get into any details you should know that SIP is done by the individuals to construct in their wealth, save for their future that too in the absence of any hassle. You can begin with as low as rupees fiv