New Delhi: The Union Commerce Ministry intends to probe vendors' complaints of payments default by e-commerce player Snapdeal, a top official said on Thursday.
"A lot of people have approached me on the issue. We need to examine whether it is a case of some commercial transaction gone wrong, or it is some violation...there are too many angles to the issue," Commerce Minister Nirmala Sitharaman told the media here on the sidelines of a conference on competition law organised by fair trade regulator Competition Commission of India.
"I need to consult with other ministries in the matter, and am already working with them," she added.
After Snapdeal recently began laying off hundreds of employees as part of its restructuring, online sellers appealed to Sitharaman to help safeguard their money that the company holds in the form of outstanding dues.
The All India Online Vendor Association has written to Sitharaman that on any given month, Snapdeal holds their Rs 300 crore-Rs 400 crore in the form of outstanding dues and goods in transit or refunds.
The e-Commerce Sellers Association of India has also cautioned its members to either stop selling on Snapdeal, or to ensure that their dues from the company do not accumulate big.
Published Date: Mar 02, 2017 13:23 PM | Updated Date: Mar 02, 2017 13:23 PM