Sources said the notice was issued after completion of investigation and the charges include violation of the foreign direct investment (FDI) rules and those that regulate multi-brand retail.
Reliance took a beating on the rankings as revenues dropped owing to the COVID-19 pandemic. This is its lowest ranking since 2017.
The investment values the Group at USD 37.6 billion (about Rs 2.79 lakh crore) post-money, Flipkart said in a statement.
The transaction - which may also see participation from Singapore's sovereign wealth fund GIC and Canadian pension fund CPPIB - could value Flipkart between USD 30-32 billion.
These are being sourced globally and will be donated to hospitals and NGOs in India for distribution as the country gasps for oxygen amid the lethal second Covid wave.
Walmart said the robots save time since employees don't have to walk store aisles to find items.
This first-of-its-kind livestream shopping experience will take place on Friday at 8 p.m. EST on the Walmart profile page on TikTok, the company said on Thursday.
India is already one of Walmart’s top sourcing markets, with annual exports worth about $3 billion
The expansion in sourcing will include helping develop new suppliers in categories such as food, pharmaceuticals, consumables, health and wellness, and general merchandise, along with apparel homeware and other key Indian export categories.
KKR & Co, a global investment firm, will purchase a 65% stake, while Japanese online retailer Rakuten will acquire a 20% stake from Walmart,
This second round of funding comes at a time when Flipkart is focusing on growing its Supermart (grocery) and Flipkart Quick (hyperlocal business).
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