Amazon requested RBI to conduct an audit of Future Retail


Amazon asked the Reserve Bank of India (RBI) to conduct a forensic audit of Future Retail (FRL) for the past three fiscal years, alleging that the promoters and directors of Big Bazaar's parent company committed fraud by allowing Reliance to take over around 800 of the debt-laden company's stores.


The 14-page letter follows the collapse of the Rs 25,000 crore Reliance-Future deal due to a majority of FRL's secured creditors voting against the proposed transaction. Kishore Biyani's FR, which owes its creditors approximately Rs 18,500 crore, is on the verge of bankruptcy, with its largest creditor, Bank of India (BOI), filing an insolvency petition against the retailer.

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