Future Retail guilty of financial irregularities, says Amazon

Amazon is fighting a legal battle with FRL to stop the Kishore Biyani-led retailer's $3.4 billion deal with Reliance Industries Limited (RIL)

US e-commerce giant Amazon has written to the independent directors of Future Retail Limited (FRL), including Gagan Singh, Ravindra Dhariwal and Jacob Mathew, and its audit committee, providing data and alleging that there have been significant financial irregularities to the prejudice of public shareholders, banks, creditors, and third-party suppliers. Amazon has said this warrants a thorough and independent examination of all relevant facts and related-party transactions, including of past financial years, by an independent agency. 

Separately, Amazon has written to Securities and Exchange Board of India Chairman Ajay Tyagi, seeking the withdrawal of the regulator’s conditional approval granted to FRL