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The business has its headquarters at the Special Economic Zone of Government Cyber Park in Calicut
The apparel startup has planned to open offline stores starting with one at Lulu in Thiruvananthapuram next month.
Late last month India soft-launched its Open Network for Digital Commerce (ONDC) as the government tries to end the dominance of US companies Amazon.com and Walmart in the fast-growing e-commerce market.
The total amount collected by compounding of the offences is Rs 41,85,500.
DiagunCart, founded in May 2020 by three friends amid the first lockdown, is on an ambitious expansion mission a year after its launch.
Goyal charged the American e-commerce companies with arrogance and using capital to the detriment of small shopkeepers in India.
The Ministry of Consumer Affairs' rules come amid complaints by brick-and-mortar retailers that foreign e-commerce players bypass Indian laws by using complex business structures.
As the Partner and CFO of Fireside Ventures, Basu is currently actively investing in and building a portfolio of new-age consumer brands.
The law seeks to revamp the process of administration and settlement of consumer disputes, with strict penalties, including jail term for adulteration and misleading ads by firms.
India in March said all foreign billings for digital services provided in the country would be taxed at 2 per cent from April 1, a move that caught US technology firms off guard as they were battling the coronavirus pandemic.