Amazon has written to SEBI and the Ministry of Corporate Affairs on a serious matter.
It has asked to withdraw the permission granted to Future Retail Limited (F.R.L).
This is related to the $3.4 bn merger deal between Future Group and Reliance.
The letter has also been sent to BSE Limited and the National Stock Exchange of India.
The letter alleged that F.R.L and its promoters were able to induce many regulators to give permissions to FRL.
This is done on the basis of misrepresentations made by FRL, and its promoters.
The case centres on Amazon challenging FRL’s merger with RRL (Reliance Retail).
And, the allegations that the transaction breached an agreement with Amazon.
