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Future Retail to Turn Down Amazon’s Due Diligence Request: ET

Inside A Big Bazaar Hypermarket As Biggest Indian Store Chain Gains From Demonitization Tailwind
Photographer: Dhiraj Singh/Bloomberg

The independent directors of Future Retail Ltd. are set to reject Amazon’s request to allow private equity fund Samara Capital to conduct an expedited due diligence of the Indian retailer, the Economic Times reported.

The three independent directors were scheduled to send a reply to Amazon late Sunday night, the Economic Times said. Ravindra Dhariwal, one of Future Retail’s three independent directors, described Amazon’s offer as a “smokescreen,” and said it was untenable, according to the paper.