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Amazon alleges Rs 7,000 cr diverted from Future Retail

The US giant marked a copy of its letter to the finance minister, RBI governor, Sebi and other authorities, seeking an investigation

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Saritha Rai and Upmanyu Trivedi | Bloomberg
Amazon.com Inc., which is trying to block India’s richest man from taking over a struggling retail chain, fired a fresh salvo by alleging that money from the local firm was possibly diverted to other companies. 

Future Retail Ltd. transfered Rs 7,000 crore ($939 million) in the year ended March 2020 as a capital advance to a company controlled by its founder Kishore Biyani and as payment for goods and services purchased from the related firm, Amazon said in a letter seen by Bloomberg News. Future Retail also created unusual rental security deposits and made advances to suppliers worth a total

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