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ED To Issue INR 1000 Crores Penalty to Flipkart For BillionDay Sales Violation

Enforcement Directorate has issued a notice to seeking Rs 1000 cr penalty for violating rules in its mega sale (during Flipkart’s billionday sale*).

This isn’t the first time Flipkart has had troubles with ED – The earlier probe on Flipkart found the company violating FEMA regulations.

Flipkart claimed to have crossed $100mn in sales during the billion day, though several brands have complained about Flipkart’s predatory pricing tactics.

We really wonder what business does ED has in discount sales? (CCI is the right authority to carry such investigations).

* A few signals tell us that ED hasn’t done any investigation yet. We will get the official word from Flipkart.

Meanwhile, read this : A Starry Eyed Entrepreneur’s Defence of Flipkart (Snapdeal, Zomato and every other Indian startup)

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