One after another, the woes for Amway India are not reaching to any conclusion in India. Amway India’s CEO Bill Pinckney, is still in police custody at Hyderabad. Now the Enforcement Directorate issued a show cause notice to Amway India for the violations of Fema (Foreign Exchange Management Act).
The ED has found that Amway India repatriated Rs 8,000 crore to the United States from India in the past 10 years.
An official in the Enforcement Directorate said, 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.