Flipkart blatantly violating laws: CAIT

In a letter to Piyush Goyal, Union Minister for Commerce and Industry, Praveen Khandelwal, National General Secretary of Confederation Of All India Traders (CAIT), has accused Walmart-owned Flipkart of blatantly violating the law by creating a façade in order to exercise control over inventory and retail prices.
Khandelwal said that Flipkart has created a system of surrogate business partners with the sole aim of bypassing the FDI policy and Indian laws and destroying the very traders the policy aims to protect.

"On behalf of over 8 crore traders, we are writing to you to initiate an immediate inquiry and investigation into the wholly illegal business practices," Khandelwal said.

The trade body said, "Flipkart's modus operandi to run its business is not transparent and is done in a clandestine manner that not only raises suspicion into its actions, but also warrants an inquiry into money laundering by Flipkart in association with these 30 entities."

CAIT demanded investigation and action against Flipkart and its violations of the FDI policy, GST, Income Tax and more serious money laundering concerns. - IANS