Evaly barred from conditional offers
FE Report | Tuesday, 16 February 2021
The Bangladesh Competition Commission (BCC) has barred e-commerce platform Evaly from offering conditional sales of products.
The order came following a hearing in Dhaka on Monday.
"We asked them not to sell any products on conditional offers that violate the competition law," BCC Chairman Mofizul Islam told The Financial Express.
He said the e-commerce platform has violated the competition law through different types of cashback offers ranging from 80 per cent to 150 per cent on product sales.
"This is an interim order. There will be another hearing following their compliance to this order," he said. oBCC also asked Evaly to remove all advertisements, offering such conditional sales.
The next hearing is scheduled to be held on March 15, an official at the Evaly said, adding that the company has already complied with the BCC order by removing advertisements from the apps and websites.
The BCC also formed a committee to investigate the issue and submit a report by March 15.
The BCC Chairman said the Evaly can, however, continue their business as usual.
The e-commerce platform offers consumers different lucrative deals, including cashback that goes up to 100-150 per cent.
If a customer buys, for example, Tk 100 worth of goods, they can get back the same amount or even more.
Registered with the Registrar of the Joint Stock Companies and Firms on May 14 in 2018, Evaly.com Ltd sold products worth around Tk 10 billion in only two years although its paid-up capital is Tk 50,000 only.
As the business was growing, an increasing number of complaints have also been lodged against the company with various government agencies.