NCLAT issues notice to Walmart, enquires about business model
The National Company Law Appellate Tribunal (NCLAT) has issued a notice to Walmart, enquiring about its business model under an appeal filed against the Walmart-Flipkart deal.
"Before going into the merit of the appeal, we intend to know the manner in which Walmart International Holdings Inc. and Flipkart Pvt. Ltd. do their business in the relevant market in India," the notice, which was issued on September 6, said.
The appeal was filed by the Confederation of All India Traders (CAIT) against the Competition Commission of India (CCI) approval for Walmart-Flipkart deal.- IANS