BackWal-Mart lobbying: Panel probing charges to submit report by April
Panel was mandated to inquire into disclosures of Wal-Mart before the US senate regarding its lobbying activities
Premium(AFP)
New Delhi: A government-appointed committee, that is probing into media reports on disclosures of Wal-Mart in the US regarding its lobbying activities and whether the retail giant undertook any activity in India in contravention of law, will submit its report by April.
“The government has appointed one-man inquiry committee regarding media reports concerning Wal-Mart vide resolution dated 31 January 2013. The committee has been asked to submit its report within three months from issuance of the resolution," minister of state for commerce and industry S. Jagathrakshakan said in a written reply to the Lok Sabha.
In January, the Union cabinet had decided that the probe would be conducted by a retired judge of Supreme Court or chief justice of a high court.
The committee was mandated to inquire into media reports on disclosures of Wal-Mart before the US senate regarding its lobbying activities.
It will also probe whether the US retail giant undertook any activities in Indian in contravention of any Indian law.
As per the lobbying disclosure reports filed by Wal-Mart with the US Senate, the company had spent close to $25 million (about Rs125 crore) since 2008 on its various lobbying activities, including on the issues related to enhanced market access for investment in India.
The minister also said that the Reserve Bank of India (RBI) has informed that the matter related to Bharti-Walmart/Cedar Support Services Ltd has been referred to the Enforcement Directorate for further investigations.
“No time frame has been fixed by the government for conducting the enquiry," he added.
Further, the minister said that the Central Vigilance Commission (CVC) has informed that it has not received any demand from the All India Traders Association to inquire into alleged Wal-Mart bribery case.
In a separate reply, he said that during the meeting of commerce and industry minister Anand Sharma and Wal-Mart CEO Doug McMillon, the CEO has conveyed that they are studying the conditions in India.
“He was assured about the finality of the policy on foreign direct investment (FDI) in multi-brand retail trading and the provision clarifications on the policy, if required," he added.
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