Willing to accept Amazon's proposal, but under certain conditions: FRL

Future Retail is required to pay its lenders Rs 3,500 crore by January 29, 2022 and it has asked Amazon to confirm its willingness to pay the amount by Monday

The independent directors of Kishore Biyani-led Future Retail Limited (FRL) have given their willingness to accept US e-commerce giant Amazon’s proposal in addressing any financial concerns of FRL, including the solution proposed in the term sheet between Samara Capital, and FRL, which contemplated an infusion of Rs 7,000 crore in FRL. However, it told Amazon that any assessment of proposals will be subject to FRL’s legal obligations.

FRL has also sent the letter to the Directorate of Enforcement, Securities and Exchange Board of India (SEBI), Competition Commission of India (CCI) and CCI chairman Ashok K Gupta. It has also sent