Evaly gets 22 days to explain how it will clear liabilities
The ministry of commerce has asked the e-commerce platform Evaly to explain how it will meet its current liabilities to customers and merchants by 2 September.
The ministry in a notice today also asked the e-commerce platform to provide information on its total liabilities to merchants during this period.
Evaly, also, has to provide its asset statement by 19 August and information about its total liabilities to customers and the number of creditors as of 15 July by 26 August.
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Earlier on 2 August, Evaly sought six months from the commerce ministry for explaining how it will meet its current liabilities to customers and merchants in response to a show cause notice served by the commerce ministry.
The commerce ministry statement said the timespan provided in the show cause notice was enough to respond for an e-commerce platform, as such data is supposed to be automatically stored in an e-commerce company's database.
On July 19, the commerce ministry sent a letter to Evaly, asking it to explain how it would clear its current liabilities to customers and merchants.
The ministry had given Evaly 10 days to provide some general information like a total amount it took from customers in advance and how much it paid to merchants from the money as of 15 July.
But the e-commerce platform did not disclose any such information after 10 days. The ministry also wanted to know about its liabilities to customers and merchants and its future plan for supplying products against which it received advance money from customers, but the e-commerce company did not say anything about it as well.
