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Bangladesh: Commerce ministry seeks answers from Evaly

Evaly business methods and transition plans from the current situation

Dhaka — On the one hand, it is not providing the product by taking money from customers, on the other hand, it has taken the product without paying the price of different companies. The e- company Evaly has more than 6 times the liability in this regard.

The Ministry of has issued a notice to show the whys and wherefores for the six questions. As well as the company’s business practices have been asked to inform.

On Monday (July 19), the Commerce Ministry sent a letter to Evaly Chairman Shamima Nasrin and Managing Director (MD) Mohammad Russell.

The letter was issued by the Commerce Ministry to protect consumers and merchants and prevent negative impacts on the e-commerce sector.

The six questions mentioned in the notice must be answered by August 1.

Six questions:

What is the reason for Evaly having only Tk 65 crore in working assets as against a total of Tk407 crore due to customers and merchants till last 14th March? Whether Evaly has the rest of the money. If so, you have to give detailed information about it, if not, you have to give a full explanation.

What is the total amount due to the customer till 15th July, what is the current status of the products to be paid in return for the money taken from the customer and what are the future plans in this regard?

What is the amount due to merchants till 15th July and what is the current status and future plan for payment?

A full account of what Evaly has taken from customers since the start of business until July 15, how much money has been paid to merchants, and how much has been paid in administrative and other sectors.

  • Evaly business methods and transition plans from the current situation.

An acceptable explanation of whether or not any business practices or activities that are inconsistent with the Digital Commerce Policy and Digital Commerce Management Guidelines are still in existence.

Commerce Secretary Tapan Kanti Ghosh said on Sunday (July 18) that officials of the e-commerce company Evaly would be summoned over the allegations.

Earlier, a report by Bangladesh Bank said that Evaly’s debt was six times more than his assets. According to the report, the total liability of Evaly is Tk407 crore.

The company has taken Tk214 crore in advance from customers, and the remaining Tk190 crore from merchants. As per normal rules, the company should have at least Tk404 crore in working assets. But there assets only of Tk65 crore.

Besides, no trace of Tk339 crore has been received from customers and merchants till March 14. There is a risk of embezzling or illegally removing the money.

The Ministry of Commerce has sent a letter to four government institutions to take necessary action after investigating the allegations on July 4 in the light of the observation of an inspection report of Bangladesh Bank on Evaly.

The four institutions are the Anti-Corruption Commission (ACC), the Public Security Department of the Ministry of Home Affairs, the Bangladesh Competition Commission and the National Department of Consumer Protection.

Shalima Nasreen, chairman of the ACC and managing director of the ACC. A letter was sent to those concerned asking for a ban on Rassell’s expatriation. The court also gave similar instructions.

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