New Delhi, Sep 22 (IANS): Strongly opposing the open violation of the laws by the big foreign companies in the Indian e- commerce business, the Confederation of All India Traders (CAIT) will hold a protest on Thursday.

Thousands of trade organizations associated with CAIT in more than 500 districts across the country including Delhi will give memorandums to the district collectors in all states demanding a CBI inquiry into the matter and immediate rolling out of proposed e-commerce rules under the Consumer Protection Act.

Leaders of more than 20,000 trade organizations of the country will participate in this programme. CAIT is running a national campaign on e-commerce for a month from September 15 to October 15 regarding the rigging in the e-commerce business. In this context, CAIT has convened an emergent meeting of its national governing counsel at Varanasi on September 30 and October 1 in which almost 150 prominent trade leaders of the states will be taking part to discus the state of e-commerce business in India, steps taken by the Government and to decide the future course of action.

CAIT National President B C Bhartia and Secretary General Praveen Khandelwal on Wednesday demanded from the Government a forensic audit of the financial statements submitted by Amazon in previous years to know whether the money paid to lawyers was used in bribing Government officials or other persons.

They also said that looking at the irregularities committed by Amazon, it is required that a comprehensive investigation including by the Income Tax Department, Central and State GST departments, SEBI, Ministry of Corporate Affairs, CCI and ED should be conducted simultaneously to bring out the truth of their business model.

CAIT said that it is for the Government to decide whether it wants to allow foreign funded companies to keep violating the law and treating India as a banana republic and give a message to the world that India's laws are weak .

Now is the time to establish the supremacy of the law and rules of the Government and the 8 crore traders of the country will leave no stone unturned to ensure that no new version of the East India Company should ever take shape in India, CAIT said.