Flipkart`s Big Billion Day Sale under ED scanner

Flipkart owners: Binny Bansal (left) and Sachin Bansal.

New Delhi, Oct 14: The e-commerce giant, Flipkart, has to face Enforcement Directorate probe for its Big Billion Day Sale on last Monday, following the complaints from traders.

According to reports, the ED will look into complaints of predatory prices on goods sold by Flipkart after traders alleged that the e-commerce giant resorted to unfair trade practices.

Earlier, Commerce and Industry Minister Nirmala Sitharaman acknowledged that the government has received many complaints from traders on Flipkart’s massive discount sale that raked in Rs 600 crore on a single day.

It may be noted that Flipkart’s sale on October 6 had offered steep discounts on various products, raising concerns among small and big traders that such campaigns would badly affect players in the traditional retail market.

Flipkart has reportedly said that its ‘Big Billion Day’ sale saw 1.5 million people shopping at its portal, and products worth over Rs 600 crore were sold in just 10 hours.

The Confederation of All India Traders (CAIT) reportedly sought a probe into the business model and trade practices of e-commerce companies to find out how they are offering huge discounts during the festive season.

(With Agency Inputs)

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