Future Retail Ltd’s independent directors as per FRL independent director Ravindra Dhariwal are collating information made by Amazon to expose the before the Competition Commission of India (CCI), details of contradiction and misrepresentation.
Dhariwal said the independent directors to show Amazon’s intent was totally contradictory are going deeper into each and every representation made before the CCI.
FRL independent directors want to point exactly to CCI, what the internal documents are saying and what has been told by Amazon.
Amazon in November 2019 had acquired a stake in FRL via a 49 per cent stake in Future Coupons Pvt Ltd (FCPL), approval given by CCI for Amazon to acquire stake.
Dhariwal said the issue is being raised by the independent directors now as only now the intent of Amazon has come into public light. Amazon had said that they have no interest in Future Retail Ltd (FRL), now found that it was strategic in nature, with that around Rs 30,000 crore PSU (banks) money would be written off and 50,000 employees would lose their jobs.
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