<p>A plea filed by the traders' body CAIT against the CCI's nod to the acquisiton of home-grown e-commerce giant Flipkart by US-based Walmart Inc has been dismissed by the National Company Law Appellate Tribunal (NCLAT).</p>.<p>A two-member bench of the appellate tribunal headed by Justice S J Mukhopadhaya said CAIT failed to establish its allegations against CCI granting approval for Walmart-Flipkart deal.</p>.<p>NCLAT also said Flipkart was not even made party by CAIT in its plea.</p>.<p>"We find no merit in it, accordingly the appeal is dismissed," the NCLAT stated, upholding the CCI nod to the deal.</p>.<p>The appellate tribunal also observed that the deal would add value to the Flipkart platform.</p>.<p>The Competition Commission of India (CCI) on August 8, 2018 had said it has approved US retail giant Walmart's acquisition of Flipkart.</p>.<p>NCLAT had reserved its order on CAIT's plea in January last year.</p>.<p>In August 2018, CAIT had filed a petition in NCLAT asking for reversal of the Walmart-Flipkart deal. Orders passed by CCI can be challenged before NCLAT.</p>.<p>On August 18, 2018, Walmart announced that it has completed a deal with Flipkart and holds 77 per cent stake in the Indian e-commerce major. The deal size was USD 16 billion.</p>.<p>In the following month, NCLAT asked Walmart International Holdings Inc to file a reply before it explaining the way of doing business in India.</p>.<p>CAIT was also asked to file its understanding over Walmart's business model in India.</p>.<p>In its petition, CAIT mentioned that CCI in its order has ignored the predatory activities carried out by both Flipkart and Walmart in the past.</p>
<p>A plea filed by the traders' body CAIT against the CCI's nod to the acquisiton of home-grown e-commerce giant Flipkart by US-based Walmart Inc has been dismissed by the National Company Law Appellate Tribunal (NCLAT).</p>.<p>A two-member bench of the appellate tribunal headed by Justice S J Mukhopadhaya said CAIT failed to establish its allegations against CCI granting approval for Walmart-Flipkart deal.</p>.<p>NCLAT also said Flipkart was not even made party by CAIT in its plea.</p>.<p>"We find no merit in it, accordingly the appeal is dismissed," the NCLAT stated, upholding the CCI nod to the deal.</p>.<p>The appellate tribunal also observed that the deal would add value to the Flipkart platform.</p>.<p>The Competition Commission of India (CCI) on August 8, 2018 had said it has approved US retail giant Walmart's acquisition of Flipkart.</p>.<p>NCLAT had reserved its order on CAIT's plea in January last year.</p>.<p>In August 2018, CAIT had filed a petition in NCLAT asking for reversal of the Walmart-Flipkart deal. Orders passed by CCI can be challenged before NCLAT.</p>.<p>On August 18, 2018, Walmart announced that it has completed a deal with Flipkart and holds 77 per cent stake in the Indian e-commerce major. The deal size was USD 16 billion.</p>.<p>In the following month, NCLAT asked Walmart International Holdings Inc to file a reply before it explaining the way of doing business in India.</p>.<p>CAIT was also asked to file its understanding over Walmart's business model in India.</p>.<p>In its petition, CAIT mentioned that CCI in its order has ignored the predatory activities carried out by both Flipkart and Walmart in the past.</p>