QUESTIONING: CAIT questions terms of reference on probe into Walmart lobbying

New Delhi, December 22, 2012: While reacting to a media report explaining the expected terms of reference for a judicial probe on lobbying disclosure report, the Confederation of All India Traders (CAIT) has questioned reported terms of reference as a futile exercise in as much as it does not contain the basic fundamental questions required to be included in the terms of reference.

The CAIT also said that the terms of reference should also include whether any other global company has indulged in such kind of practice and if so who are the beneficiaries in India. The terms of reference for judicial probe must be inclusive, said CAIT.

CAIT National President B. C. Bhartia and Secretary General Mr. Praveen Khandelwal in a joint statement released here today said that the terms of reference should include explicit reference for probing the sacked officials of Walmart, who have already identified by the Company and an internal probe is conducted by Walmart. Their explicit inclusion will take the probe in a more judicious way.

The CAIT leaders further said that there are allegations of FEMA violations on Wal-Mart which also needs to be included in the suggested terms of reference.

The CAIT leaders said that immediate after the announcement of FDI in Retail, the Indian Rupee appreciated in comparison to US dollar. A probe is also needed whether such an appreciation was orchestral move of the global retailers or not. They also demanded that the probe should also include whether there is any nexus between the bribery and political parties.