"You, as independent directors, have facilitated this fraudulent stratagem to defraud the Indian public and regulators," Amazon wrote in a letter sent to FRL's two independent directors. "Amazon is thus constrained to write this letter on account of your gross failure, as independent directors of FRL, to perform and exercise your statutory obligations and duties. Your inaction and material omissions have resulted in the execution of this stratagem orchestrated to commit a fraud by FRL."
ET has seen the letter, dated May 19 and signed by Amazon India senior corporate counsel Hina Doon.
Ravindra Dhariwal, one of the two independent directors of FRL, declined to comment when ET asked him about Amazon's letter.
Reliance Projects & Property Management, a unit of Reliance Industries, had taken possession of the outlets, citing non-payment of rents for the properties it had subleased to FRL.
Amazon has lately been focusing on this issue in court cases and in its communications to various regulators, after Reliance Retail last month called off its deal to acquire Future Group's retail assets for ₹25,000 crore. Reliance's decision came after FRL lenders rejected the proposal.
Amazon in its letter said it had given sufficient heads up to the independent directors and raised serious concerns regarding various alleged irregularities at FRL. "However, despite such communications, you failed to acknowledge the existence of such issues and deliberately ignored the red flags raised to the detriment of the regulators, creditors, lender banks, its shareholders and other stakeholders, including Amazon," the letter said.
Future-Reliance deal: Amazon writes to Future independent directors, accuses them of facilitating fraudule - Economic Times
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