81 Tests, 2019 Articles
and counting ...

After Sale Fiasco, Flipkart Slapped 1000 Cr ED Notice

PUBLISHED BY: SURENDER KUMAR
OCTOBER 14, 2014

   
  submit to reddit   Delicious   Digg   LinkedIn  

After Sale Fiasco, Flipkart Slapped 1000 Cr ED Notice

The Enforcement Directorate has issued notice to Flipkart.com over its recent billion day sale. The ED is likely to levy a Rs 1,000 crore penalty on the e-commerce giant. There were many complaints from traders on Flipkart's massive discount sale last week and the government had assured that it will probe them and decide whether more clarity is required on e-commerce retail business. Many complaints concerned the prices offered during the sale, which many claimed, were predatory in nature, designed to kill competitors by selling the goods at less-than-cost price.

 

Flipkart's 'Big Billion Day' sale offered massive discounts on various products, raising concerns that such campaigns would badly affect the traditional retail players.



ARCHIVES -- CURRENT AFFAIRS

Tell Us About gkmine.com

We Listen ...


Fortnightly Contest


... WIN Exciting Prizes ...

item-pointer Coming Soon ...

... Previous Winners ...