The much-awaited Wal-Mart-Bharti tie up will take some more time to be finalised as the world's largest retailer said it was not making any business announcement during the India visit of its vice chairman Mike Duke
Asked for comments about Commerce and Industry Minister Anand Sharma informing the Rajya Sabha in September that Wal-Mart had made the investment in Cedar via its Mauritius arm but the RBI had no FDI data of the same, Mittal said: "I have no idea. We have given everything what is required".
The key team members are in place. Prateek Agrawal, the equity head is from ABN AMRO AMC, Sujay Das, the fixed income head came from DSP Merrill Lynch AMC and Nanda Kishore S, the marketing head is from Sundaram BNP Paribas AMC. Dasgupta himself is from Deutsche AMC. Bharti-AXA has a 35-member strong team, which would be expanded to 70 by June.
Former Walmart India head Raj Jain has been roped in as an advisor by the Bharti Group, which on Wednesday parted ways with the US retail giant to operate stores independently in India.
US retail giant Walmart has asked the government for more time to convert $100 million of debentures held in a Bharti Group unit, an investment that's being investigated for alleged violation of norms.
Ramnik Narsey, the new chief, had joined the retail giant in May 2013.
Global retail giant Walmart has got fair trade regulator CCI's green signal for purchase of Bharti group's almost 50 per cent stake in their Indian joint venture for wholesale stores business.
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