Amazon India Begins Investigation on Bribery Related charges
Amazon.com Inc. laid emphasis on its zero tolerance for graft policy and said that it will investigate all allegations of corruptions against their Indian counterpart. This comes as the US giant is being investigated by the Competition Commission of India (CCI) for alleged anti-competitive practices, predatory pricing and biased treatment of sellers
Amid reports of Amazon probing bribery-related charges against some of its legal representatives in India, the US e-commerce giant mentioned that they are aware of improper actions and serious investigations are under process. 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.
In a communication sent to Commerce Minister Piyush Goyal, the trader’s body has said that it will move a representation to the United States Securities and Exchange Commission (SEC) Chairman Gary Gensler and demand a “fair and independent probe” into the matter.
BC Bhartia, who is a CAIT National President mentioned that he too needs to determine if there is any connection with the ongoing investigation into the continuous violation of the law and rules by Amazon.
It should be noted that all Blue Chips companies like 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 CCI, for alleged anti-competitive practices, predatory pricing and preferential treatment of sellers.