September 7, 2018 / 11:14 AM / 7 months ago

Walmart unit asked to explain India business model after Flipkart acquisition

Sept 7 (Reuters) - Walmart Inc’s unit has been asked to explain its business model in India after its acquisition of e-commerce platform Flipkart, following an objection raised by a local traders body.

India’s National Company Law Apellate Tribunal (NCLAT), which is in charge of matters related to Indian companies, issued an order to Walmart Inc subsidiary Wal-Mart International Holdings Inc, the document dated Sept. 6 showed.

The Confederation of All India Traders filed their plea late last month against the $16 billion acquisition.

NCLAT has asked Wal-Mart International to file its reply by Sept. 20. (Reporting By Arnab Paul in Bengaluru; Editing by Amrutha Gayathri)

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