The probe stems from a whistleblower claim that Flipkart employees accepted bribes from vendors in the smartphone and luggage divisions.
If confirmed, the kickbacks could have shifted vendor rankings, giving certain brands higher visibility and driving sales, according to insider sources.
This is the third investigation in less than three years, following a luggage‑accessories case that led to three terminations and a smartphone‑division inquiry that saw an employee resign.
Walmart’s Indian unit accounts for roughly 22% of its global revenue; any material loss of trust could reverberate across its retail portfolio.
The company has pledged to release a detailed report by end‑May, while analysts are watching for any changes in Walmart’s dividend policy or share buyback plans.