Reliance vs Amazon fight makes for a cranky board at Future Retail

Independent directors say Amazon.com deliberately misled India's competition regulator about the true nature of its 2019 investment in Future Coupons.

Two of the world’s richest men, fighting over a near-bankrupt Indian retailer, have made so much noise that its board has woken up super cranky. In less than a week, the three independent directors of Future Retail Ltd. have shot off two letters to the country’s competition authority, alleging that Amazon.com had deliberately misled the regulator about the true nature of its 2019 investment in a related entity. They want the antitrust watchdog to cancel the transaction.

The 2025 dollar bonds of Future Retail rose a little Monday, though they still trade at 61 cents to the dollar. Based on