Why are businesses getting closed for making excessive profits?

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Last week there was news about some businesses in Durbar marg getting locked by government officials due to selling goods worth 2000 at 27000. What I don't understand is why is that illegal? Most businesses have a markup on goods sold and that's how they make profit. Is there some kind of law that states you cannot put more than certain mark up?

Anyone?

Oh_Gaathe

· Snapshot 61

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I guess the problem here is selling the goods as legit to the customers. Selling it as from the showroom of original nike, adidas and puma is the problem. If the buyers knew those were chinese knock off they are selling, then no one would pay that price. That might be the problem.

Kiddo

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Per the link below, "जबकि, कालोबजारी ऐनमा २० प्रतिशतभन्दा बढी नाफा लिएर वस्तु बिक्री गर्न नपाइने उल्लेख छ "

There are other issues as well, like wrong categorization of merchandise as the article states.

https://www.onlinekhabar.com/2017/09/623821

my man

· Snapshot 318

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i am really annoyed with such actions of the government. the business has its obligations to bank, rent, employees, and utilitiy companies. the business is there to make profit; a lot if it can - apple and google making $1000.00 per second; so govt should point them for making too much? when was a phone $1000.00 in the past? codeless telephone sells for $19.99.

if a govt can interven in retailer business for charging high price... will they try to set cap on rent charged by landlords as well?

jerryswari

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It's a good move by the government otherwise it will be survival of the fittest scenario if companies are allowed to do whatever they wanted even selling counterfeit merchandise at more than the branded item price. Certain things are unethical and government should be there to enforce the contract among the people.

edipre

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People who shop at these shops have no problem with the price. I see people who never shop at these stores are ranting about it..I personally never entered these stores because couldn't afford it and have no problem at all with the people who shop at these stores ..corrupt minister shiv Kumar mandal to me was acting like an idiot..to me these stores are there for making profits and are creating employment .. we have choice of not buying at these stores ..there are other measures of controlling these businesses ..

Last edited: 06-Sep-17 11:06 PM

Alias_

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The blatant loot of these merchandising stores came into light and the business owners are running amok like cockroaches.Selling Chinese material and dubbing them authentic and calling themselves good fancy dealer is itself a joke indeed.Albeit,Kings way is a hot spot of affluent customers who will make it rain in any items without a second thought,the genuine purchaser would've been easily duped by these tricksters.These fakeology stores should be shut down asap( with fines) and if possible why not more momo outlets in such a vibrant place!.

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