September 7, 2018 / 11:15 AM / 2 months ago

Walmart unit asked to explain India business model after Flipkart acquisition

Sept 7 (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. (Reporting By Arnab Paul in Bengaluru; Editing by Amrutha Gayathri)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below