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Dec 11, 2012
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Walmart to apply US laws to Indian operations; wants anti-bribery undertaking from store owners
Walmart is demanding anti-bribery undertakings from landlords of its Indian stores along with rights to inspect their books, the latest blowback from its global anti-bribery campaign that has put an unflattering spotlight on its fledgling India operations. The US supermarket group's India venture, Bharti Walmart, now at the centre of a raucous political debate on the entry of foreign firms into the supermarkets sector, wants landlords of all its stores in India, including Easyday stores operated by partner Bharti Enterprises, to give undertakings saying they are not party to and will not indulge in corrupt practices, effectively bringing them under the ambit of US anti-bribery laws.
Source -
http://economictimes.indiatimes.com
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