100 vendors may declare bankruptcy due to nonpayment of dues

Nearly 100 vendors of HomeShop18 are complaining that they may go bankrupt. They claim that HomeSHop18 hasn’t paid their dies worth INR 200 crores.

HomeShop18 was India’s first comprehensive digital commerce player. In 2008 it started selling products through not just TV but also internet and mobile.

Recently TV18 group sold HomeSHop18 to a real estate firm Sky-blue Build Well. The News Minute reports, “According to a Caravan article published in 2016, Skyblue Buildwell is an entity related to Nahata. Nahata and Mukesh Ambani, the promoter of the Network 18 group have had other business dealings too, according to reports.”