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City based apparel seller Rajdhani Cotton has filed a complaint with Delhi Police against Jasper Infotech Private Limited, which runs e-commerce firm Snapdeal, and its founders Kunal Bahl and Rohit Bansal, for alleged non-payment of dues to them. Speaking to Pixr8 here, one of the promoters of Rajdhani Cotton, Rajat Gupta, said, "We have lodged a complaint with Delhi police to look into a matter of cheating and breach of trust. Snapdeal owes us Rs 67.6 lakh for business transactions between April 2014 and April 2016, but it has fraudulently withheld payments." Police has filed a case against Jasper and its founders Kunal Bahl and Rohit Bansal, under IPC sections 406 (breach of trust), 420 (cheating), 467 (forgery), 468 (forgery for purpose of cheating), 120B (criminal conspiracy), ...

E-commerce major Flipkart, after facilitating loans worth Rs 125 crore for sellers on its platform in last one year, is looking to help merchants avail credit facility of over Rs 75 crore in the next few months. The Bengaluru-based firm, which has partnered eight financial institutions including Axis Bank, Bajaj Finserv, NeoGrowth, Lendingkart and Capital First to offer collateral-free loans to sellers on its platform, has already disbursed Rs 125 crore worth of loans in the last one year. Under the Flipkart Growth Capital programme, launched in July last year, Flipkart sellers can avail loans with interest rates starting at 11.40 per cent, Flipkart said in a statement. The programme had received over 3,000 applications in the initial months of the launch and over 800 loans have b...

Tag: seller

Bengaluru Based Apparel Seller Files Case Against Snapdeal

Flipkart Will Provide Rs 75 Cr Loans to Sellers