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