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Corporate Mar 7, 2013

Bribery probe committee summons Wal Mart executives

By Firstbiz Staff

Wal Mart executives have been summoned by the committee set up to investigate the bribery charges against the company, CNBC TV18 reported, quoting sources.

The company representatives will meet the probe committee on 22 March. The meeting is likely to be attended by some executives from the US as well.

Reuters

The Indian government had agreed to an inquiry but did not give in to Opposition demands for a judicial probe. Reuters

The Ministry of Corporate Affairs, Ministry of External Affairs and the Department of Industrial Policy and Promotion (DIPP) have been asked to submit information to the probe committee which is headed by Justice Mukul Mudgal, the sources said. The committee might also seek information from the US authorities.

In December last year, pressed by demands by the Opposition for an independent probe into disclosures on lobbying made by Wal Mart for gaining market access, the US retail giant had clarified that money for lobbying was not used for Indian contracts.

"These disclosures have nothing to do with political or governmental contacts with India government officials," Wal Mart said in a statement earlier.

Later, the Indian government had agreed to an inquiry but did not give in to the Opposition's demands for a judicial probe or an inquiry by the joint parliamentary committee.

by Firstbiz Staff

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