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Independent directors of Future Retail have turned down Amazon’s offer of financial support to the company through a deal with private equity firm Samara Capital, saying any legally invalid offer cannot be accepted.
Future Retail’s independent directors had last week asked Amazon if it was willing to give a long-term loan to avoid default on repayment of Rs 3,500 crore loan due on January 29. Amazon replied to that saying it was willing to financially assist Future Retail through the Samara Capital deal but the retailer must shelve Rs 24,713 crore deal with the Reliance group.
Independent directors say Amazon hasn’t shown them the money that Future Retail urgently needs to stall being declared a defaulter. They want to know if Amazon
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