Under the lens for alleged anomalies that has led the Government to impose travel ban on the Managing Director and Chairperson of the e-commerce company Evaly, its CEO and Managing Director Mohammad Rassel said closing down Evaly was not a viable solution if consumer rights are to be protected as it would only hurt investors and consumers.
According to reports, the CEO and MD of the e-commerce platform made this observation as he went live on Facebook recently to air his opinion adding: “…Everyone has been advocating protecting consumers interests and their future, but how will it resolve the issue if we are shut down?”
Rather than resolving the issue, Evaly was pushed to close down on the basis of a report, reportedly, alleged Mohammad Rassel.
It may be mentioned here that Evaly had hit the headlines recently, after a report by the country’s central bank (Bangladesh Bank) concluded the e-commerce company’s debt was six times more than its assets (leaving it with a total liability of Taka 407 crore) even as it added that Evaly had taken an advance of Taka 214 crore from customers, and Taka 190 crore from merchants and, as per the law, Evaly should have working assets of at least Taka 404 crore but Evaly had only Taka 65 crore in assets besides, advance payment of Taka 339 crore from customers and merchants taken by the company till 14 March could not be traced as well, which authorities, reportedly, believe have been laundered or embezzled.