Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.


Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence


Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
Needmore seats to Win
Needmore seats to Win
2-min read

NCLAT Wants to Know India Business Models from WalMart International and Flipkart

NCLAT has asked WalMart International Holdings Inc to file its reply before it by September 20, 2018.


Updated:September 7, 2018, 4:06 PM IST
NCLAT Wants to Know India Business Models from WalMart International and Flipkart
(File photo: Reuters)
New Delhi: The National Company Law Appellate Tribunal (NCLAT) has asked US retail major WalMart and e-commerce major Flipkart to explain their way of doing business in India.

NCLAT, which is also an appellate authority over the Competition Commission of India (CCI), has asked WalMart International Holdings Inc to file its reply before it by September 20, 2018.

It has also asked trader's body CAIT, which has filed an appeal before NCLAT challenging the go ahead by fair trade regulator CCI on Walmart's USD 16 billion acquisition of home-grown Flipkart, to file its understanding over the Walmart's business model in India.

"Before going into the merit of the appeal, we intend to know the manner in which Wal-Mart International Holdings, Inc. and Flipkart Private Ltd do their business in the relevant market in India," said an NCLAT bench headed by Chairman Justice S J Mukhopadhaya.

The tribunal further said: "The appellant (CAIT) may file relevant list of dates and their understanding of sales by Respondent No 2 (Wal-Mart International) by way of an additional affidavit within a week thereof."

NCLAT has directed to list the matter on October 5 'for admission' of Confederation of All India Traders (CAIT) petition opposing approval granted by the CCI on August 8 to the Walmart-Flipkart deal.

Last month, while clearing Walmart's $16 billion acquisition of Flipkart, the CCI opined that complaints about the deal violating FDI rules "may merit policy intervention" but do not fall under its ambit.

The CCI had said it is "not likely to have an appreciable adverse effect on competition in India and therefore, the same is hereby approved."
It had observed that the complaint about Flipkart's discounting practice or preference to select e-tailers is not specific to this merger deal and is "already prevalent" in the market.

Earlier, on August 18 Walmart had informed that it has completed deal with Flipkart and holds 77 per cent stake in the Indian e-commerce major.

Besides, the Bentonville giant's investment includes $2 billion of new equity funding to help accelerate the growth of the Flipkart business.

Walmart India, a wholly-owned subsidiary of Walmart Inc, owns and operates 21 Best Price Modern Wholesale stores in eight states in the country.
WalMart International Holdings, Inc is a subsidiary of Walmart Inc.
(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
| Edited by: Naqshib Nisar
Read full article
Next Story
Next Story

Also Watch

Most Active
Company Price Change %Gain
SBI 344.10 0.88
Reliance 1,339.45 -0.07
IndusInd Bank 1,599.00 5.27
HDFC Bank 2,327.35 -3.26
ICICI Bank 413.35 1.97
Company Price Change %Gain
Reliance 1,339.70 -0.07
Larsen 1,476.75 1.11
SBI 343.95 0.91
Yes Bank 139.85 1.56
Adani Enterpris 164.85 4.37
Top Gainers
Company Price Change %Gain
Adani Ports 407.90 5.69
IndusInd Bank 1,599.00 5.27
Zee Entertain 358.05 4.63
Grasim 888.70 3.66
ICICI Bank 413.35 1.97
Company Price Change %Gain
IndusInd Bank 1,597.40 5.26
Yes Bank 139.85 1.56
ICICI Bank 413.05 1.86
Hero Motocorp 2,750.50 1.92
SBI 343.95 0.91
Top Losers
Company Price Change %Gain
Vedanta 158.25 -4.84
Eicher Motors 20,424.95 -3.77
ITC 288.80 -3.65
HDFC Bank 2,327.35 -3.26
Hindalco 193.05 -2.50
Company Price Change %Gain
ITC 289.05 -3.51
Vedanta 158.25 -4.93
TCS 2,053.00 -1.43
HDFC Bank 2,330.25 -3.11
Tata Motors 176.25 -1.78

Live TV

Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results