• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Wednesday, July 16, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home News

Enforcement Directorate Puts 8 Ecommerce Giants Including Flipkart, Jabong, Snadeal etc. Under Its Surveillance

by Nitin Konde
January 19, 2016
in News
Reading Time: 1 min read
0
Enforcement Directorate Puts 8 Ecommerce Giants Including Flipkart, Jabong, Snadeal etc. Under Its Surveillance
TwitterWhatsappLinkedin

 

You might also like

Reddit Rolls Out Age Verification for UK Users Amid New Online Safety Rules

Hackers Take Over Elmo’s X Account, Post Anti-Semitic Slurs and Attacks on Trump

Pentagon Awards Contract to Elon Musk’s xAI Despite Ongoing Grok Chatbot Backlash

Scanner

19 January, 2016, New Delhi: When the entire country is planning to shift to online, Enforcement Directorate (ED) has put its scanner on for eight out of 21 ecommerce giants including Snapdeal, flipkart, Jabong etc. As per ED, these companies have been flouting the foreign investment norms of the country.  The directorate will be keeping a close eye on the businesses of these eight ecommerce sites and after examining their working, it will be submitting its report to the ministry in February.

“All these sites offering heavy discounts to their customers are actually playing with the foreign investment norms of the country,” informed ED, DNA reports.

As per the foreign investment norms and Foreign Exchange Management Act (FEMA) of the country, companies running their businesses on B2B platform are permitted to raise funds from overseas. On the other hand, B2C sellers are not allowed to acquire funding from any foreign investor.  However, Foreign Direct Investment (FDI) is also permitted in only those companies that manufacture and sell their own goods, and not for those who don’t.

Last year, All India Footwear Manufacturers and Retailers Association had filled a similar complaint against flipkart, snapdeal , Jobong and Amazon’s Junglee at the Delhi High Court. After a close examination, the high court has found that there is ‘a prima facie violation’ and it has reported it to the Central Government of India.

Image- lighthouseinsights.in

Tags: amazonDelhi High CourtEnforcement DirectorateflipkartForeign Direct InvestmentForeign Exchange Management ActjabongJungleeSnapdeal
Tweet54SendShare15
Previous Post

Swiggy All Set To Take Its Business To A Next Level; Raises Funding Of Rs 230 Crore

Next Post

Indus Acquires Funding of $5 Million In Its Series A Funding

Nitin Konde

Recommended For You

Reddit Rolls Out Age Verification for UK Users Amid New Online Safety Rules

by Harikrishnan A
July 16, 2025
0
Surge in Reddit’s MOON Token Price Following Deflationary Strategy Unveil

Reddit has begun enforcing age verification for users in the United Kingdom in response to the country’s new Online Safety Act. The law, which is set to take...

Read more

Hackers Take Over Elmo’s X Account, Post Anti-Semitic Slurs and Attacks on Trump

by Harikrishnan A
July 16, 2025
0
Hackers Take Over Elmo’s X Account, Post Anti-Semitic Slurs and Attacks on Trump

The official X account of Elmo, one of Sesame Street’s most cherished characters, was hijacked on Sunday by unknown hackers who posted a barrage of hateful and conspiratorial...

Read more

Pentagon Awards Contract to Elon Musk’s xAI Despite Ongoing Grok Chatbot Backlash

by Harikrishnan A
July 16, 2025
0
Pentagon Awards Contract to Elon Musk’s xAI Despite Ongoing Grok Chatbot Backlash

Elon Musk’s AI startup, xAI, has secured a major federal contract, with the U.S. Department of Defense (DoD) announcing it will begin using the company’s “Grok for Government”...

Read more
Next Post
Indus Acquires Funding of $5 Million In Its Series A Funding

Indus Acquires Funding of $5 Million In Its Series A Funding

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple Artificial Intelligence bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?