Violation of FDI policy: HC notice to centre, firms

The Delhi high court on Wednesday issued notices to Centre, Bharti-Walmart Limited and Bharti Retail Limited on a plea for probe against firms for allegedly violating FDI norms.

The Delhi high court on Wednesday issued notices to Centre, Bharti-Walmart Limited and Bharti Retail Limited on a plea for probe against firms for allegedly violating FDI norms.

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A PIL alleged that Bharti Walmart was illegally carrying out multi-brand retail trade despite being permitted to wholesale cash-and-carry trade.

Senior lawyer Pinky Anand, appearing for Shiva, alleged that many Indian companies were acting as “front” for foreign firms to give their offshore partners a “majority control and economic interest” in retail sector.

“This instant case seeks to expose how established Indian companies are fronting for foreign trading companies... so as to give the foreign partner majority control and economic interest in the Indian retail sector," the PIL said.