Show Cause Notice not issued by ED to Flipkart. ED not inquiring into "Big Billion Sale".
Show Cause Notice not issued by ED to Flipkart. ED not inquiring into "Big Billion Sale".— ED (@dir_ed) October 16, 2014
Earlier it was reported that the massive discount sale by the online retail giant came under ED's radar following several complaints by other traders. According to sources, ED would investigate whether the company flouted any retail rules during the single-day sale which was held on Oct 6.
However, an official, on the condition of anonymity, was quoted as saying, "There is no proof of anything wrong yet, we are investigating complaints." It was also reported that a fine of Rs 1,000 crore might have been imposed on Flipkart.
Earlier Commerce and Industry Minister Nirmala Sitharaman said, "We have received many inputs. Lot of concern has been expressed. We will look into it."
"We have received many inputs. Lot of concern has been expressed. We will look into it," Sitharaman told reporters on Flipkart's 'Big Billion Day' sale.
"Now there are many complaints. Whether there is a need for a separate policy or some kind of clarification is needed, we will make it clear soon," she added.
Flipkart's sale, that offered steep discounts on a range of products, has raised concerns among traders that such campaigns would badly affect players in the traditional retail market.