Future Group, its promoters ‘orchestrated and committed’ fraud, says Amazon

US e-commerce giant Amazon has warned Future Group and its promoters against going ahead with approval to the sale of Future Retail Ltd (FRL) assets to Reliance Retail as part of a $3.4-billion deal. In a letter written to Future Group founder Kishore Biyani, his daughter Ashni Kishore Biyani and other promoters, Amazon said it was at liberty to take all action available in law to enforce valid, binding and subsisting injunctions, and it reserved all rights in this regard. The firm alleged that fraud had been orchestrated and committed by Future Group and its promoters.

Amazon alleged that such fraudulent and malicious conduct on the part of Future Group and its promoters had deprived Amazon of the very substratum of its bona fide investment.