Evaly has six commerce ministry questions to answer

The commerce ministry has ordered Evaly, an e-commerce business marred by allegations of delay in delivery, to explain six issues.

The company’s Chairman Shamima Nasrin and Managing Director Mohammad Rassel have until Aug 1 to respond, according to a notice issued on Monday on Evaly’s business model and allegations of sufferings of customers.

The ministry said it noticed recently that Evaly is not delivering products in proper time after taking money from the customers. It is also not paying the merchants who are supplying the goods.

“Such activities have triggered fears that a huge number of customers and merchants will face financial losses.”

The six points Evaly has been asked to clear are:

>> Why were Evaly’s liabilities over Tk 4.07 billion when the current assets was only Tk 651.7 million on Mar 14? Does it have the rest of the fund? If it has the money, the firm will have to provide details. And if it does not have the funds, it will have to explain why.

B. Where did its liabilities to the customers stand on Jul 15? How many products it has delivered against the money taken from the customers? What is the current situation of this issue? What’s the firm’s plan to deal with it in future?

C. How much did it owe the merchants on Jul 15? What is the current situation of this issue? What’s the firm’s plan to deal with it in future?

D. Details of how much money Evaly took from its customers until Jul 15 since opening business, how much it paid to the merchants, and its administrative and other expenses.

E. What is Evaly’s business model and how does it plan to overcome the current situation? 

F. Does it have any system or activities that are not consistent with the amended Digital Commerce Policy 2020 or the guidelines on running digital commerce business? If there is any, what is Evaly’s explanation about them?

The ministry in a meeting on Sunday decided to send notice to the e-commerce platforms that are facing allegations, as well as institute a committee to check how they were doing business.

The committee will also decide whether to allow the firms time to fix the issues or take legal action against them, said the ministry’s Additional Secretary Hafizur Rahman.

The commerce ministry met amid allegations against Evaly and some other online marketplaces over delay in delivery or not refunding after failure to deliver the products.

The Anti-Corruption Commission is investigating allegation of embezzlement and money-laundering against Evaly. A court has also slapped overseas travel ban on Evaly MD Rassel and his wife Shamima as part of the investigation.