Wal-Mart probing charges of bribery in India

November 17, 2012

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New Delhi, November 17: Retail giant Walmart has disclosed that it is investigating alleged violations of the US anti-bribery law in India, China and Brazil. The development could trigger fresh opposition to the opening up of the domestic retail market to global companies.

The disclosure is likely to provide ammunition to political parties that are planning to corner the government on its decision to allow FDI in multi-brand retail when Parliament reconvenes next week for the winter session.

"Since the implementation of the global review and enhanced anti-corruption compliance programs, the company has identified or been made aware of additional allegations regarding potential FCPA (Foreign Corrupt Practices Act) violations. When allegations are reported or identified, we, together with our third party advisors, conduct inquiries and when warranted, we open investigations," Wal-Mart said in a statement late on Thursday.

"We have inquiries or investigations regarding allegations of potential FCPA violations in a number of foreign markets where we operate regarding FCPA allegations, including but not limited to Brazil, China and India. This is in addition to the ongoing investigation in Mexico," the company said.

The disclosure, made in a regulatory filing, suggests Walmart has uncovered evidence into potential violations of FCPA, as the fallout continues from a bribery scheme involving the opening of stores in Mexico that was the subject of a New York Times investigation in April.

Internal probe unrelated to FDI lawsuits: Wal-Mart

Walmart's disclosure that it is investigating alleged violations of the US anti-bribery law does not necessarily mean that it has definitely paid bribes in China, India and Brazil, New York Times has quoted an unnamed source as saying. "But it did indicate that the company had found enough evidence to justify concern about its business practices in the three countries — concerns that go beyond initial inquires and that are serious enough that shareholders need to be told," the newspaper said.

It also said that the Justice Department and the Securities & Exchange Commission are also looking into the company's compliance with the anti-bribery law. The FCPA treats payment of bribes or offering inducements by US companies and individuals or even foreign companies listed on US stock exchanges as an offence. The law enacted over a decade ago was part of a global drive against corrupt practices and money laundering.

When contacted, a Walmart India spokesperson declined to comment on specific allegations until investigations are concluded by the company. "This investigation is unrelated to recently publicized public interest lawsuits related to claims that Walmart is in violation of FDI laws," the spokesperson said in an email to TOI. The BJP said the latest disclosure by the US retailer makes the issue of allowing FDI in multi-brand retail "murkier". "We need to have answers as to why the government is in a hurry to allow FDI in multi-brand retail. There are several questions which need to be answered," said BJP spokesperson Nirmala Sitharaman.


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Agencies
January 16,2020

New Delhi, Jan 16: United Forum of Bank Unions has decided to observe a two-day strike on January 31 and February 1, demanding early wage revision settlement which has been due since November 1, 2017, said the All India Bank Employees Association.

Union Finance Minister Nirmala Sitharaman will present her second Union Budget on February 1.

Banks will also hold a strike on March 11, 12 and 13. Also, an indefinite strike will be held from April 1.

General Secretary, All India Bank Officers' Confederation West Bengal Sanjay Das has stated that the nationwide strike has been called over several demands.

"The demands include--wage revision settlement at 20 per cent hike on payslip components with adequate loading thereof and scrapping off New Pension Scheme (NPS)," said Das.

There are several demands to hold the strike including the merger of special allowance with basic pay, updation of pension, improvement in the family pension system, five-day banking, allocation of staff welfare fund based on operating profits and exemption from income tax on retiral benefits without a ceiling.

"Other demands include-- a uniform definition of business hours, lunch hour etc in the branches, introduction of leave bank, defined working hours for the officers and equal wage for equal work for the contract employee," said Das.

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News Network
May 30,2020

New Delhi, May 30: As the NDA government completes one year of its second term, Prime Minister Narendra Modi listed several achievements and initiatives taken by his government in the past year in an audio message addressed to the people of the country.

PM Modi said, "This day last year began a golden chapter in the history of Indian democracy. It was after several decades that the people of the country voted back a full-term government with a full majority."

"Your role has played a pivotal role in creating this chapter. In such a situation, this day is an opportunity for me to bow to the citizens of the country and the democratic ethos of our nation," said PM Modi.

"Had the situation been normal, I would have got the chance to meet you. Your affection and active support in the past year have given me new energy and inspiration. During this period, the way you have shown the collective powers of democracy, they have become an example for the whole world," he added.

PM Modi talked about several important initiatives taken by his government in 2014 as well as India's demonstration of its mettle through the surgical strike and airstrike.

"Six years ago in 2014, the people of this country voted to bring a major change in the country. You voted to change the country's policy and manner. During that tenure where surgical strike and airstrike took place, one rank one pension, one nation one tax GST, and better MSP for farmers were also fulfilled. That period was dedicated to fulfilling many needs of the country."

He further said that in these years the country has seen systems coming out of the quagmire of inertia and corruption. The country has seen governance change to make life easier for the poor.

"During that period, India's stature in the world increased. By opening bank accounts of poor people, by giving them gas connections, by providing free electricity connections, by building washrooms, by building houses, the dignity of the poor has also been increased," said PM Modi.

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News Network
March 26,2020

New Delhi, Mar 26: Despite repeated assurances by the Centre and state government of no shortage of food and essential services in Delhi, many daily wage earners have started fleeing the national capital on foot to return to their native villages in nearby Uttar Pradesh and other states because of the hardships being faced by them.
Most daily wage earners who are fleeing have complained that they are doing so because they will die of hunger due to lack of resources at their disposal.
"I am going to Azamgarh, my native place which is more than 800 kilometers from here. We have started walking towards our village. On the roads, if we get some vehicles then it will be all right otherwise we will continue on foot. I used to work in the construction sector but all work has stopped, we therefore have no other means to buy our rations. Atleast, food is guaranteed in our homes," Ghanshyam, a daily wage earner, told ANI here.
Rani, another daily wage earner, who was fleeing Delhi along with her family said, "Who would want to leave on foot, but what other options do we have. Our children will die of hunger, even if they are saved from the disease. That is why we are leaving."
While the government has been assuring that it will provide food and other essentials to the low-income groups, the people complained that they are yet to receive any help.
The departing of people has started despite repeated warnings by governments to prevent the influx of persons living in other states to curtail the spread of coronavirus.
Prince, who used to reside in Mongolpuri area of Delhi, said, "If we continue to stay the landlord will pester us for rent. The prices of all commodities are rising with each passing day, this way we will have nothing left to survive. We did not get any help from the government. I am, therefore, returning to Kasganj, which is close to 300 kilometres from Delhi. We will at least get food served twice a day in the village, nobody is offering us even water here."
Earlier on Tuesday, Delhi Chief Minister Arvind Kejriwal had announced Rs 5,000 for each construction worker under Construction Workers Welfare Board Fund.
Addressing a video conference here, he said, "The Delhi government will give Rs 5,000 to each construction worker as their livelihood has been affected due the outbreak of coronavirus."
He also said that the number of night shelters in the city has been increased and more food is being distributed to homeless people.
He also said that due to curfew, several people were not able to get food, and urged the public to send such people to the nearest shelters of the Delhi government, where food was being arranged.

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