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Traders irked with CCI’s nod to Flipkart-Walmart deal; will take the issue to courts

The Competition Commission of India's (CCI) approval to the Walmart-Flipkart deal has irked offline traders in India, with the traders body, Confederation of All India Traders (CAIT) announcing that it will take legal action against the approval of the said deal. CAIT said that the CCI's approval is "arbitrary, illogical and in utter disregard of the principles of natural justice since the Commission neither took cognisance of the valid objection raised by the Confederation of All India Traders and various other organisation nor gave any opportunity to place their view point." CAIT added that it is a one-sided exercise by the CCI, much against the larger interest of the economy and the nation. The CAIT has decided to take the matter to the Courts to seek justice and has also convened an emergency meeting of its National Governing Council on 19th August at Nagpur to decide the future strategy "for a nationwide movement against the deal". The CAIT said that it will also knock the doors of the Central Government and has sought an appointment with Union Finance Minister Piyush Goyal and Commerce Minister Suresh Prabhu and if the need arises, the CAIT will also urge Prime Minister to intervene. CAIT National President  B.C.Bhartia & Secretary General Praveen Khandelwal said that "the Competition Act mandates the CCI to act in furtherance of the principles of natural justice". CAIT said in a statement that despite repeated objections of many trade associations, including by the itself, the CCI denied them an opportunity of being…

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