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NCLAT asks Walmart to submit details of its merger with Flipkart

The CCI had in August cleared the $16-billion deal

BS Reporter 

Walmart

The National Company Law Appellate Tribunal (NCLAT) has issued a notice on Walmart, asking it to submit details of its merger with Flipkart and explain the way they want to do business in India. The appellate tribunal was hearing a case filed by the Confederation of All India Traders against the Competition Commission of India's (CCI's) order.
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The CCI had in August cleared the $16-billion deal — Walmart has 77 per cent stake in Flipkart — saying it won't affect competition in India and not create a monopoly. Walmart has a 77 per cent stake in Flipkart. The case will be heard on October 5 once Walmart submits its reply before the tribunal.

First Published: Sat, September 08 2018. 02:14 IST
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