Begin typing your search above and press return to search.
proflie-avatar
Login
exit_to_app
The smouldering of anger in Ladakh
access_time 29 March 2024 4:20 AM GMT
Democracy that banks on the electorate
access_time 28 March 2024 5:34 AM GMT
Lessons to learn from Moscow terror attack
access_time 27 March 2024 6:10 AM GMT
Gaza
access_time 26 March 2024 4:34 AM GMT
The poison is not in words, but inside
access_time 25 March 2024 5:42 AM GMT
DEEP READ
Schools breeding hatred
access_time 14 Sep 2023 10:37 AM GMT
Ukraine
access_time 16 Aug 2023 5:46 AM GMT
Ramadan: Its essence and lessons
access_time 13 March 2024 9:24 AM GMT
When ‘Jai Sree Ram’ becomes a death call
access_time 15 Feb 2024 9:54 AM GMT
exit_to_app
Homechevron_rightBusinesschevron_rightNCLAT reserves order...

NCLAT reserves order on plea against CCI nod to Walmart-Flipkart deal

text_fields
bookmark_border
cancel
camera_alt""

New Delhi: The National Company Law Appellate Tribunal (NCLAT) has reserved its judgement over the petition filed by traders' body CAIT against fair trade regulator CCI's nod to Walmart's USD 16-billion acquisition of Flipkart.

A two-member bench of the appellate tribunal headed by Justice S J Mukhopadhaya concluded its hearing on Thursday after taking note of submissions made by both sides.

"Hearing concluded. Judgment Reserved," said the NCLAT.

However, the bench said: "It will be open to the parties to file short written submission, not more than three pages, by January 29, 2019."            In August 2018, CAIT had filed a petition in the NCLAT, which is also an appellate authority over the Competition Commission of India (CCI), asking for the reversal of the Walmart-Flipkart deal.

On August 18, Walmart had informed that it has completed deal with Flipkart and holds 77 per cent stake in the Indian e-commerce major.

Earlier on September 6, the NCLAT, which is also an appellate authority over the Competition Commission of India (CCI), had asked Wal-Mart International Holdings Inc to file a reply before it explaining way of doing business in India.

CAIT was also asked to file its understanding over the Walmart's business model in India.

Show Full Article
News Summary - NCLAT reserves order on plea against CCI nod to Walmart-Flipkart deal
Next Story