Business Standard

FRL's independent directors acting for benefit of promoters: Amazon

It is not for the benefit of FRL's shareholders, creditors, vendors and employees, alleged Amazon's letter to FRL's independent directors


Peerzada Abrar Bengaluru
US e-commerce giant Amazon has again written to independent directors of Future Retail (FRL), including Gagan Singh, Ravindra Dhariwal, and Jacob Mathew, alleging that now it is  clear that their actions are only for the benefit of the Promoters and others involved in the transaction (“Impugned Transaction”) with the Mukesh Dhirubhai Ambani (Reliance Industries Limited) group (“MDA Group”).

“It is not for the benefit of FRL’s shareholders, creditors, vendors and employees,” alleged Amazon’s letter to FRL’s independent directors (dated January 27) which Business Standard has reviewed. “We are surprised at the stance taken in Your Letter (FRL). We had hoped

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First Published: Jan 27 2022 | 11:09 PM IST

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