Traders move NCLAT against Walmart deal
In its appeal, CAIT has maintained that it had filed a detailed objection against the deal before the CCI.
By : DC Correspondent
Update: 2018-08-28 19:14 GMT
New Delhi: Small traders body Confederation of All India Traders (CAIT) said on Tuesday that it has filed an appeal in National Company Law Appellate Tribunal (NCLAT) against the decision of Competition Commission of India (CCI) to approve Walmart-Flipkart deal.
Around two weeks back, Walmart had said that it has completed its $16 billion acquisition of a majority stake in India’s largest e-commerce firm Flipkart.
In its appeal, the CAIT has asked for reversing the CCI’s August 8 order “as no opportunity of hearing was given by CCI to CAIT.”
In its appeal, CAIT has maintained that it had filed a detailed objection against the deal before the CCI.