New Delhi, Nov 7 (IANS) The Confederation of All India Traders (CAIT), which represents eight crore retail traders, on Thursday welcomed the Enforcement Directorate (ED) raids on multiple sellers across the country — linked to e-commerce platforms including Amazon and Flipkart — over alleged money laundering activities.
Calling it a “step in the right direction”, BJP MP and CAIT Secretary General Praveen Khandelwal told IANS that India is a vibrant democracy governed by the rule of law and its Constitution and no one can be allowed to bypass or disregard these laws.
“CAIT, along with several other trade bodies, has been raising these issues for the past few years. I welcome the Enforcement Directorate’s actions as a step in the right direction. Earlier, the Competition Commission of India also issued penalty notices to Amazon, Flipkart, and their preferred sellers for engaging in anti-competitive practices that have adversely affected small traders and Kirana stores,” he emphasised.
The ED conducted a pan-India search against subsidiaries and sellers of the leading e-commerce players. Nearly 24 such seller locations were raided by the regulator in cities like Delhi, Mumbai, Hyderabad, and Bengaluru. As per sources, the ED investigation was underway related to alleged Foreign Exchange Management Act (FEMA) regulations. The ED raids aim to find evidence related to alleged money laundering activities that may have been facilitated through online e-commerce platforms.
The regulator or e-commerce players did not immediately comment
According to Khandelwal, the law will take its rightful course and protect the livelihoods of small shopkeepers. “In response to multiple complaints filed by the trading community regarding FDI violations and the anti-competitive practices of quick-commerce companies such as Blinkit, Swiggy, and Zepto, we urge both the CCI and the ED to take swift action to prevent any further, irreparable damage to the businesses of small traders,” he said.
–IANS
na/vd
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
