ADVERTISEMENT

Tribunal asks Walmart to explain India business model after Flipkart deal

Tribunal asks Walmart to explain India business model after Flipkart deal
Photo Credit: Reuters

Walmart Inc's unit has been asked to explain its business model in India after its acquisition of e-commerce platform Flipkart, following an objection raised by a local traders body.

India's National Company Law Apellate Tribunal (NCLAT), which is in charge of matters related to Indian companies, issued an order to Walmart Inc subsidiary Wal-Mart International Holdings Inc, the document dated Sept. 6 showed.

The Confederation of All India Traders filed their plea late last month against the $16 billion acquisition.

NCLAT has asked Wal-Mart International to file its reply by Sept. 20.

Share this Post

Comment(s)

ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT