Fresh probe likely into Wal-Mart’s India lobbying
1 July 2013 4:09 PM GMT
Wal-Mart may face a fresh probe into its lobbying activities for entering India, after issues raised by a one-man inquiry committee, set up by the government earlier this year to look into this matter, were stonewalled by the global retailer.
The inquiry conducted by the panel remained inconclusive and it was not satisfied with the replies provided by the US-based retail giant on various issues, including on the exact amount spent on its India-specific lobbying activities, sources said.
Pursuant to the suggestions made by the committee, which also observed that it lacked necessary ‘investigative or summoning powers’ to conclude that Wal-Mart indulged in lobbying and bribery for India operations, the government is considering initiating further investigations into the matter, they added.
Separately, Wal-Mart is already facing a probe by the ED for alleged violation of Fema (Foreign Exchange Management Act) norms.
The inquiry conducted by the panel remained inconclusive and it was not satisfied with the replies provided by the US-based retail giant on various issues, including on the exact amount spent on its India-specific lobbying activities, sources said.
Pursuant to the suggestions made by the committee, which also observed that it lacked necessary ‘investigative or summoning powers’ to conclude that Wal-Mart indulged in lobbying and bribery for India operations, the government is considering initiating further investigations into the matter, they added.
Separately, Wal-Mart is already facing a probe by the ED for alleged violation of Fema (Foreign Exchange Management Act) norms.
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