India asks Flipkart, its founders to explain why they won't face penalty
... investment and a related party, WS Retail, sold then goods to consumers on its website, which was prohibited under law. A so-called show cause notice was issued by the agency in the southern city of Chennai in early July to Flipkart , its founders Sachin Bansal and Binny Bansal as well as current investor Tiger Global, to explain why they cannot face a fine of 100 billion rupees for the lapses, said the agency official and the sources who are familiar with the contents of the notice. A Flipkart spokesperson ...
Updated: 08/05/2021
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