CCI nod for Walmart-Flipkart deal, traders' body to move court
New Delhi, Aug 8 : Fair trade watchdog Competition Commission of India (CCI) has approved the acquisition of e-commerce major Flipkart by Wal-Mart International Holdings.
However, a traders' body said that it will move the court against the approval.
"@CCI_India approves proposed acquisition of Flipkart Private Limited by Wal-Mart International Holdings, Inc," CCI said in a tweet on its official Twitter handle on Wednesday.
On May 9, global retail giant Walmart Inc announced it was buying 77 per cent equity stake in the country's largest e-tailer Flipkart for $16 billion, subject to regulatory approval in India.
The acquisition of the majority stake makes the $500-billion Walmart the largest shareholder of the Flipkart group and will help accelerate its mission to transform e-commerce through digital technology.
Reacting to the development, the Confederation of All India Traders (CAIT) said that it will move the court against the CCI decision.
"It is most unfortunate that leaving aside the objections raised by CAIT in CCI, the Commission has approved the deal," CAIT Secretary-General Praveen Khandelwal said.
"Without giving any opportunity of hearing to CAIT, the CCI has flayed principle of natural justice. We deeply condemn such an attitude and will certainly move to Higher Court against the decision of CCI."
According to Khandelwal, CAIT has called for an emergency meeting of its governing council on August 19 at Nagpur.
The traders, protesting under CAIT, have denounced the deal arguing that it would create "unfair competition" and demanded that the government scrap it.
On its part, Walmart welcomed the decision and said that it remains committed to contribute to the Indian economy by supporting smallholder farmers, manufacturers, and "our Kirana" customers.
"Our partnership with Flipkart is testament to our continued confidence in our ability to contribute to this market. Flipkart is a prominent player in India with a strong, entrepreneurial leadership team that is a good cultural fit with Walmart," the company said in a statement.
"We believe that the combination of Walmart's global expertise and Flipkart will position us for long-term success and enable us to contribute to the economic growth."
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Kerala enters silence campaigning phase; Candidates make last-mile outreach
Thiruvananthapuram (PTI): Kerala on Wednesday entered the mandatory silence period ahead of the April 9 Assembly polls, with candidates and party workers making last-ditch efforts to reach out to voters through door-to-door visits and personal contacts.
After nearly a month-long campaigning period, a total of 2.71 crore voters would exercise their franchise to decide the fate of 883 candidates in the crucial polling for the 140-member Assembly to be held on Thursday.
With high-decibel campaigning ending on Tuesday evening, the focus has now shifted to quiet, direct voter engagement, as candidates seek to secure support from all sections of voters in their constituencies.
Prohibitory orders have been imposed in sensitive constituencies to prevent any untoward incidents, while distribution of polling materials is being carried out across the state from Wednesday morning.
According to the Election Commission, campaigning through public meetings, rallies, media interactions and election-related interviews is strictly prohibited during the silence period to ensure a level playing field for all stakeholders.
In an advisory, the Commission directed star campaigners and political leaders to refrain from addressing the media through press conferences or interviews on poll-related matters during this period. Of the total 2.71 crore voters, 1.32 crore are men, 1.39 crore women and 273 transgender persons, along with over 2.42 lakh overseas voters.
The contest is primarily among three fronts -- the CPI(M)-led LDF, the Congress-led UDF and the BJP-led NDA.
The state's Chief Electoral Officer, Rathan U Kelkar, has said that all arrangements have been put in place for the smooth conduct of polls.
A total of 30,495 polling stations have been set up across Kerala, including 24 auxiliary booths created following the Special Intensive Revision of electoral rolls, he said.
These additional booths are located in Kasaragod, Kannur, Palakkad, Malappuram and Ernakulam districts.
Among the polling stations, 352 will be managed entirely by women and 37 by persons with disabilities, Kelkar said.
He added that 140 distribution and collection centres have been established, while counting will take place at 140 strongrooms and 43 locations.
As part of security measures, around 2,000 persons identified as potential troublemakers have been placed under preventive detention. Authorities have also executed about 11,000 non-bailable warrants and removed over 3,400 social media posts for alleged violations of poll norms.
The conclusion of public campaigning on Tuesday evening saw a vibrant display of political mobilisation across the state, with roadshows, rallies and processions filling town centres, marked by party flags, drum beats and slogan-shouting workers.
Apart from traditional canvassing, political parties also relied heavily on television, print media and social media platforms to reach voters during the campaign period.
