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ED probe on Big Billion day
By: Tupaki Desk | 14 Oct 2014 9:17 AM GMT
After Flipkart successful sale of its products on Big billion day the Indian E-commerce industry had proven its ability in picking the market opportunities. Almost every retailer afraid due to this sale offer by Flipkart. Many retailers approached manufacturers to stop their sale to portal.
Adding to these retailers approached Enforcement Directorate with their complaints on massive discounts. In the complaint they requested ED to probe how Flipkart able to offer discounts beyond buying price. Considering this ED started its initial probe on Flipkart. Sources said the agency is inquiring into whether the company has flouted any retail rules during the single-day sale. Sources confirmed that there is no false practices found till the moment.
Flipkart "Big Billion Day" sale offered steep discounts on various products, raising concerns among retailers. they are urging government to stop these practices and said such campaigns would badly affect players in the traditional retail market.
Adding to these retailers approached Enforcement Directorate with their complaints on massive discounts. In the complaint they requested ED to probe how Flipkart able to offer discounts beyond buying price. Considering this ED started its initial probe on Flipkart. Sources said the agency is inquiring into whether the company has flouted any retail rules during the single-day sale. Sources confirmed that there is no false practices found till the moment.
Flipkart "Big Billion Day" sale offered steep discounts on various products, raising concerns among retailers. they are urging government to stop these practices and said such campaigns would badly affect players in the traditional retail market.
