Business Standard

Cabinet nod to one-man inquiry panel into Wal-Mart issue

Will probe whether Wal-Mart had indulged in lobbying to gain entry into the market

Indivjal Dhasmana  |  New Delhi 

A one-man committee, comprising a retired judge, will probe into charges of by US-based chain Stores in India. The decision was taken at a meeting today.

The committee will investigate whether has indulged in any activities in India to gain entry into the market, violating any Indian law, an official statement said.

The committee was asked to submit its report within three months, according to the statement.
Last month, the Government had decided to probe into the matter following media reports on disclosures of before the Senate regarding its activities.


In November, had disclosed that it spent $25 million on in the over the past four years, including on issues related to “enhanced market access for investment in India.”

However, the retailer has repeatedly denied any as is legal in the US.

In September last year, the Indian Government had allowed 51% foreign holding in multi-brand companies in India.

The Parliament proceedings during the Winter Session were paralysed over the allegations that had indulged in in India to gain entry into the Indian market.

Under the Commission of Inquiry Act, the Government will have to table the probe report as well as the action report before Parliament.

entered Indian market in 2007 and operates 50:50 joint venture with Bharti Enterprises for whole selling business.

The Bharti joint venture operates 17 Best Price Modern Wholesale stores, and provides back-end logistical support for the Easyday stores owned by Bharti Retail.

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Cabinet nod to one-man inquiry panel into Wal-Mart issue

Will probe whether Wal-Mart had indulged in lobbying to gain entry into the market

A one-man committee, comprising a retired judge, will probe into charges of lobbying by US-based retail chain Wal-Mart Stores in India. The decision was taken at a cabinet meeting today.

A one-man committee, comprising a retired judge, will probe into charges of by US-based chain Stores in India. The decision was taken at a meeting today.

The committee will investigate whether has indulged in any activities in India to gain entry into the market, violating any Indian law, an official statement said.

The committee was asked to submit its report within three months, according to the statement.
Last month, the Government had decided to probe into the matter following media reports on disclosures of before the Senate regarding its activities.

In November, had disclosed that it spent $25 million on in the over the past four years, including on issues related to “enhanced market access for investment in India.”

However, the retailer has repeatedly denied any as is legal in the US.

In September last year, the Indian Government had allowed 51% foreign holding in multi-brand companies in India.

The Parliament proceedings during the Winter Session were paralysed over the allegations that had indulged in in India to gain entry into the Indian market.

Under the Commission of Inquiry Act, the Government will have to table the probe report as well as the action report before Parliament.

entered Indian market in 2007 and operates 50:50 joint venture with Bharti Enterprises for whole selling business.

The Bharti joint venture operates 17 Best Price Modern Wholesale stores, and provides back-end logistical support for the Easyday stores owned by Bharti Retail.

image
Business Standard
177 22

Cabinet nod to one-man inquiry panel into Wal-Mart issue

Will probe whether Wal-Mart had indulged in lobbying to gain entry into the market

A one-man committee, comprising a retired judge, will probe into charges of by US-based chain Stores in India. The decision was taken at a meeting today.

The committee will investigate whether has indulged in any activities in India to gain entry into the market, violating any Indian law, an official statement said.

The committee was asked to submit its report within three months, according to the statement.
Last month, the Government had decided to probe into the matter following media reports on disclosures of before the Senate regarding its activities.

In November, had disclosed that it spent $25 million on in the over the past four years, including on issues related to “enhanced market access for investment in India.”

However, the retailer has repeatedly denied any as is legal in the US.

In September last year, the Indian Government had allowed 51% foreign holding in multi-brand companies in India.

The Parliament proceedings during the Winter Session were paralysed over the allegations that had indulged in in India to gain entry into the Indian market.

Under the Commission of Inquiry Act, the Government will have to table the probe report as well as the action report before Parliament.

entered Indian market in 2007 and operates 50:50 joint venture with Bharti Enterprises for whole selling business.

The Bharti joint venture operates 17 Best Price Modern Wholesale stores, and provides back-end logistical support for the Easyday stores owned by Bharti Retail.

image
Business Standard
177 22

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