You are here: Home » Companies » News
Business Standard

NCLAT sets aside CAIT plea against CCI nod to Walmart's Flipkart buy

A two-member bench of the appellate tribunal headed by Justice S J Mukhopadhaya said CAIT failed to establish its allegations against CCI granting approval for Walmart-Flipkart deal

Press Trust of India  |  New Delhi 

flipkart
NCLAT also said Flipkart was not even made party by CAIT in its plea

The National Company Law Appellate Tribunal (NCLAT) on Thursday dismissed a petition filed by traders' body against CCI nod to Walmart's $16-billion acquisition of

A two-member bench of the appellate tribunal headed by Justice S J Mukhopadhaya said failed to establish its allegations against CCI granting approval for Walmart-deal.

also said was not even made party by in its plea.

"We find no merit in it, accordingly the appeal is dismissed," said NCLAT, upholding the CCI nod to the deal.

The appellate tribunal also observed that the deal would add value to the Flipkart platform.

The (CCI) on August 8, 2018 had said it has approved US retail giant Walmart's acquisition of Flipkart.

had reserved its order on CAIT's plea in January last year.

First Published: Thu, March 12 2020. 12:42 IST
RECOMMENDED FOR YOU