Amazon is not a shareholder or creditor of (FRL) and hence has no locus standi to send the letter: Future Retail

 25 November 2021, Mumbai:

Amazon is not a shareholder or creditor of Future Retail (FRL) and hence has no locus standi to send the letter, a spokesperson for the Future Group said in response to a query.

“Amazon’s letter is nothing but an afterthought and a counterblast to the show-cause notice by the Competition Commission of India (CCI) against Amazon in pursuance of the complaint by Future Coupons Pvt Ltd (FCPL) seeking withdrawal of the CCI’s approval for Amazon’s investment into FCPL,” said the spokesperson.

“The allegations contained in Amazon’s letter are being made as Amazon alleges Future Group's Ind Directors regard to its 'Financial Irregularities'

part of a legal dispute that is being dealt with by the Supreme Court, high court, and other regulatory forums.”

Business Standard (The news article has not been edited by DFU Publications)

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