Amazon requests SEBI to investigate future retail annual reports

The years-long feud between Amazon and Future Retail Ltd (FRL) has taken a new turn, with the ecommerce giant requesting that the Securities and Exchange Board of India (SEBI) investigate FRL for sharing false liquidity crunch information and outstanding liabilities.

Amazon reportedly claimed that FRL made a false statement in its 2020-21 annual report stating that it owes a large sum for store lease payments. Amazon stated in its letter to SEBI that FRL "faces a significant liquidity risk with respect to its lease liabilities, as the current assets are sufficient to meet obligations to lease liabilities as and when they fall due."

6 views0 comments