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amazon writes to independent directors of future retail alleging financial irregularities

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amazon writes to independent directors of future retail alleging financial irregularities

New Delhi, Nov 25 (PTI) E-commerce giant Amazon has written to independent directors of Future Retail Ltd (FRL) alleging financial irregularities and demanded a thorough and independent probe.

Amazon has alleged financial irregularities in FRL’s transactions with other Future Group companies. It has been embroiled in a complicated dispute with the Future Group over its old deal.

In response to these allegations, FRL has said that Amazon has no basis for making such allegations. In fact, this letter from Amazon is an attempt to reply to the show-cause notice received by it from the Competition Commission.

Amazon has said in a letter to the independent directors of FRL that an independent investigation should be conducted into these financial irregularities.

Amazon is opposing the sale of Future Retail to Reliance Retail and has challenged the deal in court.

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