MUMBAI, India (AP) — Wal-Mart’s Indian joint venture said Friday it has suspended several employees as part of an internal corruption investigation, another blow to the U.S. company’s plans for aggressive expansion in a giant market that is largely untapped by foreign retailers.
Bharti Walmart, Wal-Mart’s joint venture with India’s Bharti Enterprises, said it had suspended “a few associates” and was “committed to conducting a complete and thorough investigation.” India’s Economic Times newspaper reported that the company’s chief financial officer was among the five employees suspended, a claim the company declined to verify.
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