Begin typing your search...
Walmart unit asked to explain India business model after Flipkart acquisition
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.
New Delhi
India’s National Company Law Appellate 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.
Visit news.dtnext.in to explore our interactive epaper!
Download the DT Next app for more exciting features!
Click here for iOS
Click here for Android
Next Story