Big Billion Trouble: ED to probe Flipkart, may impose Rs 1,000 crore fine

Bangalore, Oct 13:

may face a serious trouble as sources confirmed that

(ED) would probe its Big Billion Day. 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 has flouted any retail rules during the single-day sale which was held on Oct 6. However, an official, on the condition of anonymity, said, "There is no proof of anything wrong yet, we are investigating complaints."

Meanwhile, sources informed 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."

'There is no proof of anything wrong yet, we are investigating complaints'

"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.

OneIndia News