2 hours Ago By James Paul
The Enforcement Directorate has conducted raids across multiple vendors associated with major e-commerce platforms, including Amazon and Flipkart. Per reports, the ED on Thursday probed sellers across at least 15-16 locations as a part of the FEMA (Foreign Exchange Management Act) investigation. Earlier, officials told the Hindustan Times that the antitrust investigation by the Competition Commission of India (CCI) revealed violations by the e-commerce giants, namely Amazon and Flipkart.
Per the findings, these companies were prioritizing listings and sellers and engaged in steep discounting that helped bigwigs like Apple and Samsung, while local brick-and-mortar retailers were affected by the online offers. Meanwhile, per PTI, the ongoing ED crackdown on certain Amazon-Flipkart sellers is related to financial transactions. Multiple locations have been searched as a part of the FEMA probe, including Gurugram (Haryana), Delhi, Bengaluru (Karnataka), and Hyderabad (Telangana).
The CCI has been probing Amazon and Flipkart since 2020 and recently indicted the two firms in separate reports for enabling an impartial environment for preferred sellers that hurt healthy competition. The #EnforcementDirectorate conducted searches against some sellers who do #business on e-commerce giants like #Amazon , #Flipkart as part of a #FEMA investigation, official sources said. Read more: https://t.
co/XXR2HuYY5p pic.twitter.com/veZzLKECPD — Hindustan Times (@htTweets) November 7, 2024 🚨 Important news coming in from News18 Sources to News 18 ED conducting pan-India search against e-commerce players ED conducting search at e-commerce platforms such as Amazon, Flipkart ED conducting search at subsidiaries of e-commerce players About 2 dozen of locations.
.. — Chandra R.
Srikanth (@chandrarsrikant) November 7, 2024 More details awaited. See Also: I ndia Tightens The Noose Around Flipkart And Amazon; Finds Samsung And Xiaomi Colluding With E-Commerce Giants See Also: Flipkart Finds Itself In Hot Water After Labeling Husbands 'Aalsi' In Viral Video; Apologises After Backlash See Also: Anupam Mittal Slams Google For Hurting Indian Startups And Economy With Its Monopoly See Also: Mukesh Ambani’s Reliance May Merge Disney+ Hotstar With JioCinema To Make Single OTT; Internet Cries ‘Monopoly’.
