Financial Insights

Amazon writes to Future Retail’s independent directors alleging ‘financial irregularities’

Amazon has written to the independent directors of Future Retail Ltd (FRL) alleging “significant financial irregularities”, and said this warrants a “thorough and independent examination” of relevant facts and related party transactions between FRL and other Future Group entities.

FRL, however, has asserted that the US e-commerce major has no locus to address the letter, and that Amazon’s communication is “nothing but an after-thought and a counterblast” to a showcause notice by the Competition Commission of India (CCI).

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