Flipkart Gets Clean Chit From ED In FDI Violation Case

Now, Flipkart Gets Clean Chit From ED In FDI Violation Case

So, now the news is coming in that Enforcement Directorate has not found anything against Flipkart that would suggest that they have violated FDI norms. Flipkart has been under the scanner for some time now and few days back rumours (read below) were afloat that they had been sent Rs. 1000 crore notice. However, rumours remain unfounded.

According to this Financial Express article, citing sources has said that, no such notice was sent and as of now they have not found anything against Flipkart. While it is not that Flipkart is completely out of the hole, because sources added that the way Flipkart’s business is structured, it fell in a fell in a grey area of law.

We have said this number of times earlier – Our archaic laws have not kept pace with the changing business circumstances. There are no specific laws that govern e-Commerce business and hence companies like Flipkart, Amazon and others are able to get away with things that may not be entirely legal.

We are not blaming Flipkart – we are blaming our laws because they sure need a revamp!