ED finds FEMA violation against Flipkart, possible 1000 crore penalty

Discussion in 'Economy & Infrastructure' started by Free Karma, Aug 15, 2014.

  1. Free Karma

    Free Karma Senior Member Senior Member

    Joined:
    Oct 3, 2013
    Messages:
    2,372
    Likes Received:
    2,576
    Location:
    Chennai
    ED finds FEMA violation against Flipkart, penalty likely to be around Rs 1,000 crore - The Economic Times


     
  2.  
  3. zain8500

    zain8500 Regular Member

    Joined:
    Aug 18, 2014
    Messages:
    13
    Likes Received:
    0
    Location:
    Rawalpindi
    Re: ED finds FEMA violation against Flipkart, possible 1000 crore pena

    This money should be recover soon.
     
  4. Blackwater

    Blackwater Veteran Member Veteran Member

    Joined:
    Jan 9, 2012
    Messages:
    21,000
    Likes Received:
    11,837
    Location:
    Akhand Bharat
    Re: ED finds FEMA violation against Flipkart, possible 1000 crore pena

    how? Do u have any plans? Share with us
     
  5. tarunraju

    tarunraju Moderator Moderator

    Joined:
    Sep 18, 2009
    Messages:
    5,317
    Likes Received:
    3,891
    Location:
    Hyderabad
    Re: ED finds FEMA violation against Flipkart, possible 1000 crore pena

    Flipkart is a very, very shady operation. Sure, it started out as a Bangalore-based Indian e-tailer, but quickly restructured itself to evade various taxes and duties. It spun its warehousing arm off as WS Retail, its payment processor off as PayZippy, and its shipping arm off as EKart Logistics. The company itself relocated to Singapore, even though site operations are run through what is now a "branch office" (old HQ) in Bangalore.

    Technically, you're giving the Indian exchequer more money when you're buying from "foreign" sites like Amazon.in and Ebay.in, than Flopkart.
     
    sob likes this.
  6. parijataka

    parijataka Senior Member Senior Member

    Joined:
    Oct 15, 2011
    Messages:
    4,893
    Likes Received:
    3,688
    Location:
    Bengaluru
    Re: ED finds FEMA violation against Flipkart, possible 1000 crore pena

    Looks like any regular Indian business then...
     

Share This Page