Walmart opens probe into Flipkart after whistleblower alleges ₹150cr kickbacks
Walmart has launched an internal investigation at Flipkart after a whistleblower accused some employees of taking over ₹150 crore in kickbacks from smartphone and luggage and travel accessories suppliers.
This is the third time in less than three years that Flipkart faces a probe for financial misconduct.
Both companies are staying quiet for now while the investigation figures out what really happened and what comes next.
Flipkart faces executive exodus, buyback demands
Earlier investigations at Flipkart ended with employees being let go, showing Walmart's focus on following US rules.
On top of this new probe, Flipkart is dealing with some serious internal shake-ups: at least 14 senior executives have left recently, and ex-employees are calling for fairer stock buybacks.
It's a tough moment for the company as it tries to steady itself.