Walmart-Flipkart Deal: NCLAT Adjourns Hearing Over CCI’s Approval
In August this year, CAIT petitioned NCLAT against the deal, requesting CCI to reverse approval.
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The National Company Law Appellate Tribunal (NCLAT) on Friday, 14 December, postponed the appeal filed by Confederation of All India Traders (CAIT) against Walmart-Flipkart deal, 24 January 2019, according to The Hindu BusinessLine report.
The report further states that a two-bench panel consisting of Justice SJ Mukhopadhaya will hear the case.
In August this year, CAIT had petitioned the NCLAT against the deal, requesting Competition Commission of India (CCI) to reverse approval of Walmart’s $16 billion acquisition of 77% of Flipkart, according to an Economic Times report.
The case has earlier been adjourned twice on 5 October and 12 November.
CAIT and RSS-affiliated Swadeshi Jagran Manch have been against the Walmart-Flipkart deal since it was announced in May. The organisations suspect that the deal will create unfair competition and an uneven field for domestic players.
The Hindu BusinessLine report states that the CCI believes the deal is not likely to cause an adverse impact on competition in the market.
(With inputs from The Economic Times and Hindu BusinessLine)
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