ED Act Against Ecommerce Sites: Leading e-commerce sites Amazon and Flipkart have been hit hard by the hub. Amazon has issued orders for action against Flipkart. To take action against these companies ..
ED Act Against Ecommerce Sites: The hub has given a big shock to popular e-commerce sites Amazon and Flipkart. Amazon has issued orders for action against Flipkart. The Central Government has directed the Enforcement Director (ED) and the Reserve Bank of India (RBI) to take action against these companies. The Confederation of Indian Traders (CAIT) has complained that the two companies have violated the FDI policy, Foreign Exchange Management Act 1999 (FEMA).
It was against this backdrop that the Center issued these directions based on the CAIT complaint. Meanwhile, in an agreement between various companies and e-commerce companies, Flipkart and Amazon have violated the laws in the name of brand retailing. Indian, Secretary General Praveen Khandelwal ED, said in a statement to the RBI.
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