Bribe row: Bharti Walmart suspends CFO

Walmart

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In March 2011, the US-based company had started a worldwide review of its policies, practices and internal controls for FCPA compliance.

The company, however, had not made any specific charges of corruption in any of the countries mentioned by it.

"As these matters are currently under review, it would be inappropriate for us to comment further on the specific allegations until we have concluded the investigations," the company had said.

Walmart had also said: "When allegations are reported or identified, we, together with our third party advisors, conduct inquiries and when warranted, we open investigations."

The Reserve Bank of India has already asked Enforcement Directorate (ED) to probe Walmart's investment in an arm of Bharti enterprises -- Cedar Support Services Ltd – for alleged violations of forex laws.

Bharti Enterprises has, however, rejected the allegations that it had violated any rule in this regard. The company had said all the procedures were as per the "law of the land".

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