Flipkart gets nod for India residency

tion of Industry and Internal Trade (DPIIT) to clarify that the investment is purely financial innature and carries no board representation orcontrol,” this personsaid.

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Merger does not involve any corporate debt restructuring.

(MIN)

Mint reported on 5 September that India is exploring whether a company with a small shareholding froma China-based or connected entity can be considered a ‘Chinese’ firm, as New Delhi preparesto ease curbson investments from its neighbouring nation to counter US tariffs.

Queries emailed to the department for promotion of industry and internal trade (DPIIT), Union finance and external affairs ministries, Flip-kart and Tencent remained unanswered until presstime.