Wal-Mart gets clean chit in FEMA case

World’s largest supermarket chain Wal-Mart, got a clean chit from ED (Enforcement Directorate) in the FEMA (Foreign Exchange Management Act) violation case.

Why a clean chit to Wal-Mart in FEMA Case?

Since Government has allowed FDI in multi-brand retail and also made provision for retrospective regularization of investments. Therefore, a case of violation couldn’t be made against Wal-Mart.

What clean chit in FEMA Case means for Wal-Mart?

Now, Wal-Mart can go after its Indian plans more aggressively.