Wednesday, 15 October 2014
Flipkart got a penalty of 1000 Crore by ED For BillionDay Sales Violation
Labels:
tricks
Enforcement Directorate
has issued a notice to Flipkart seeking Rs 1000 crore penalty for violating rules in its mega sale .
“The quantum of
irregularity has been calculated. The investigation is still on. We are yet to
fix a penalty,” said highly placed sources at Enforcement Directorate. “We are
probing other businesses as well because of which we cannot reveal what we have
learned about Flipkart…It will alert others,” he said on condition of
anonymity.
“We are in complete
compliance with the laws of the land and will cooperate with authorities when
required,” Flipkart spokesperson responded.
Sources in the
e-commerce industry said ED had, two months ago, sent an enquiry note to
several companies asking about the sales model. Flipkart’s rival Amazon said
“We are fully compliant with the regulators”.
Many consumers
who use e-trading and purchases, said that when they logged into the portal for
purchase at 7:55 am, many products were shown as sold out. Many also raised
queries as to how could so many products gets sold out within seconds of
its appearing on the portal, while some like Shailendra Dubey, an e-commerce
specialist asked how can a product get sold out before the due hour of its
starting trade?
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