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"You and your agents must stop any and all current and planned work on behalf of Bharti Retail," said Viresh Dayal, chief commercial officer for Bharti Retail.

NEW DELHI: Bharti Walmart and Bharti Retail have severed ties with around two dozen consultants who had helped them secure licences for operating cash and carry and retail stores, as they review their business practices after the world's largest retailer acknowledged it was probing potential violation of American anti-bribery laws in India and other countries.

"You and your agents must stop any and all current and planned work on behalf of Bharti Retail," said Viresh Dayal, chief commercial officer for Bharti Retail in a letter written to a 'contractor' whose services have been discontinued till further notice.

The retail companies have also said they would exercise their right to audit the financial documents of these consultants and accounting firm KPMG would contact them to audit their books, said two persons with knowledge of the development.

Source:http://timesofindia.indiatimes.com/business/india-business/Bharti-Walmart-severs-ties-with-licence-facilitators-Retailers-Association-of-India-says-stores-require-up-to-51-permissions/articleshow/17977848.cms



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