ED raids on sellers linked to Amazon, Flipkart a step in right direction: CAIT

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 commentAccording 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.--IANSna/vd

Yubaraj

Nov 7, 2024 - 13:12

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

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