Notice issued to Flipkart for billion-day sale, ED may impose Rs 1000 crore penalty

Notice issued to Flipkart for billion-day sale, ED may impose Rs 1000 crore penaltyNew Delhi: The Enforcement Directorate had issued notice to Flipkart and asked them over their recent billion day sale. There are also possibilities that ED may impose a penalty of Rs. 1,000 crore on the e-commerce giant.

ED have got several complaints from traders over massive discount sale of FlipKart last week. The government had assured that it will look into the concerns and take a call on whether more clarity is required on e-commerce retail business.

Notify that ‘Big Billion Day’ sale of Flipkart had offered steep discounts on various products, raising concerns among small and big traders that such campaigns would badly affect players in the traditional retail market.

Commerce and Industry Minister Nirmala Sitharaman said, “We have received many inputs. Lot of concerns have been expressed. We will look into it.”

Bureau Report

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