This has been coming for a while. Timtara.com, the e-commerce portal whose top executives were arrested recently, has shut its operations.
Four weeks ago, the company’s director Arindam Bose and chief executive officer Harish Ahluwalia were arrested for “criminal breach of trust” after many buyers accused the company of fraud.
Consumers complained that the company has not delivered products which they bought on the site. The company’s site now shows an error message when someone tries to log in.
A Facebook page called “Timtara Fraud” updated followers yesterday that Arindam Bose’s bail plea was rejected by the sessions court. The next hearing is scheduled for 4 May 2013, said the page.
Seventymm to Shut?
The bigger problem here is the erosion of consumer trust which will impact the nascent ecommerce industry negatively. Another ecommerce company, Seventymm, which looks like its going to shut down soon, has also been facing consumers’ ire. Vendors, have also been complaining that the company hasn’t paid them even after supplying the goods.
SeventyMM, the online movie rental business which later diversified into full fledged e-commerce business shut down last month, NextBigWhat had reported. Currently, Seventymm takes you all the way through the buying process until the time comes to make a payment and shows that none of the payment options are available.