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This article is more than 3 year old.

Walmart-Flipkart deal: NCLAT seeks to know the manner in which firms undertake their business

Walmart-Flipkart deal: NCLAT seeks to know the manner in which firms undertake their business
The National Company Law Appellate Tribunal(NCLAT) on Thursday, while hearing a petition filed by The Confederation of All India Traders(CAIT) against the Competition Commission of India's decision to approve the Flipkart-Walmart deal, sought to know "the manner in which Walmart International Holdings, Inc. and Flipkart Private Limited do their business in the relevant market in India".
The court has asked the CCI to file its reply by September 20, while it has asked CAIT to file the relevant dates and their understanding of sales withing a week.
CAIT is opposed to US retail giant Walmart's proposed acquisition of 77 percent stake in homegrown retailer Flipkart in a $16-billion deal.
The traders' body, infact, said it will launch a 90-day nationwide agitation against the deal from September 15, starting from the national capital.
The association has also called for a 'Bharat Trade Bandh' on September 28.
(With inputs from PTI)