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27 Nov 2017

Complaint against Flipkart founders for cheating supplier of Rs. 10cr

Flipkart founders accused of Rs. 10cr fraud

The Bansals of Flipkart fame are in trouble, along with three of its employees. A businessman has filed a complaint against these five people alleging they had cheated him to the tune of Rs. 10cr.

The money was pending against 12,500 laptops he had supplied to the e-commerce platform, according to the complaint.

This comes even as Flipkart engages with BookMyShow for minority stake.

In context

Flipkart founders accused of Rs. 10cr fraud
Flipkart reportedly didn't pay for 12,500 laptops

Details

Flipkart reportedly didn't pay for 12,500 laptops

In his complaint, the businessman has alleged he had supplied 14,000 laptops to Flipkart between June'15-June'16.

"Flipkart returned 1,482 units but didn't pay for the remaining units. TDS and shipping charges for those units too were not paid. When asked to clear the dues, Flipkart falsely claimed it had returned 3,901 units."

The overall dues reportedly went up to Rs. 9.96cr.

Who all are named in the complaint?

The complaint has mentioned Flipkart founders Sachin and Binny Bansal, sales director Hari, and account managers Sumit Anand and Sharauque. Police have filed a case under IPC sections 34 (common intent), 406 (criminal breach of trust) and 420 (cheating).

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Meanwhile, Flipkart in talks with BookMyShow for stake

Just two weeks ago, Flipkart had launched the Billion Capture+, the first smartphone manufactured by the platform.

It is currently in talks with BookMyShow for minority stake. The deal is expected to help Flipkart's payment service PhonePe.

BookMyShow is likely to be valued at $500-700mn if the deal goes through.

Network 18, owned by Reliance Industries, is the single largest shareholder in BookMyShow.

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