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Bharati Enterprises faces heat in SEC order against Walmart over malpractices

Updated : June 21, 2019 09:08 PM IST

The SEC charged Walmart with violating the Foreign Corrupt Practices Act (FCPA) while conducting its businesses in India, China, Brazil and Mexico.
Walmart consented to the SEC order, which has highlighted Walmart failed to sufficiently investigate or mitigate certain anti-corruption risks.
Walmart had entered a 50-50 joint venture with Bharti Enterprises in 2007 to run wholesale stores, which ended in 2013.
Bharati Enterprises faces heat in SEC order against Walmart over malpractices

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