Passion IT Framework CAIT Raises Red Flag Over Flipkart-Aditya Birla Fashion Deal, Says It Violates FDI Policy

Wednesday, 28 Oct 2020 06:19 am

PassionIT News

Traders’ body Confederation of All India Traders (CAIT) has raised objections over Aditya Birla Fashion and Retail’s plans to raise INR 1,500 Cr (about $203 Mn) by issuing 7.8% stake to Walmart-owned Flipkart Group, alleging that the proposed deal violates the government’s FDI policy.