Traders to participate in ‘Bharat Trade Bandh’ on September 28 against Walmart-Flipkart deal

Traders to participate in ‘Bharat Trade Bandh’ on September 28 against Walmart-Flipkart deal

IANSUpdated: Wednesday, May 29, 2019, 06:26 AM IST
article-image

New Delhi: The Confederation of All India Traders (CAIT) on Thursday said traders from across the country are expected to participate in a strike against the Walmart-Flipkart deal on September 28.

The confederation has called for a ‘Bharat Trade Bandh’ on September 28 and a mega traders rally on December 16 in the national capital. On August 28, the confederation had approached the National Company Law Appellate Tribunal (NCLAT) against the Competition Commission of India (CCI) approval for Walmart-Flipkart deal. On August 18, Walmart Inc. acquired approximately 77 per cent stake in e-commerce major Flipkart.

Walmart now holds approximately 77 per cent of Flipkart, while the remainder of the business is held by other shareholders, including Flipkart co-founder Binny Bansal, Tencent, Tiger Global and Microsoft Corp. Walmart’s investment includes $2 billion of new equity funding to help accelerate the growth of the Flipkart business and both companies will retain their unique brands and operating structures in India.

RECENT STORIES

HCL Tech Q1 FY26 Results: Net Profit Falls 10% To ₹3,843 Crore, Revenue Up 8% YoY; Declares ₹12...

HCL Tech Q1 FY26 Results: Net Profit Falls 10% To ₹3,843 Crore, Revenue Up 8% YoY; Declares ₹12...

Income Tax Dept Raids 150 Locations Across Country Against Fraudulent Tax Benefits And Fake TDS...

Income Tax Dept Raids 150 Locations Across Country Against Fraudulent Tax Benefits And Fake TDS...

Income Tax Dept Launches Nationwide Crackdown On Fake ITR Deductions; ₹1,045 Crore In False Claims...

Income Tax Dept Launches Nationwide Crackdown On Fake ITR Deductions; ₹1,045 Crore In False Claims...

InGovern Flags Regulatory Loopholes As Viceroy Report On Vedanta Sparks Concern Over Unregulated...

InGovern Flags Regulatory Loopholes As Viceroy Report On Vedanta Sparks Concern Over Unregulated...

Kesoram Industries’ Q1 Loss Widens To ₹99.3 Crore, Revenue Drops 9.3% YoY

Kesoram Industries’ Q1 Loss Widens To ₹99.3 Crore, Revenue Drops 9.3% YoY