ED sends notice; Flipkart may face Rs 1000 cr fine

Following the controversy and complaints over online retailer Flipkart’s Big Billion Day sale, the Enforcement Directorate has stepped up and launched a probe into the matter. The ED on Tuesday issued a notice to India’s premium e-commerce portal questioning them whether it has violated any retail rules during the one-day sale on October 6.

According to the ED may impose a penalty of Rs 1,000 crore on Flipkart for breaking many retails rules while conducting the sale.

NDTV quoted an official saying, “There is no proof of anything wrong yet, we are investigating complaints.”

Reacting to the development, Flipkart said in a statement, “We are in complete compliance with the laws of the land and will cooperate with authorities when required.”

The traders’ association had earlier demanded action against Flipkart for announcing unreasonable discounts on various products, causing huge affect on traditional retail market.

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

Flipkart had claimed 1.5 million people bought products worth over Rs. 600 crore on that day.

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