Need for some regulation on eCommerce Portals

I would like to highlight recent issues faced by thousands of consumers trying to place an order on the eCommerce sites. I have observed that these sites resort to unfair and unethical business practices to fool consumers... they play within the ambit of law and take consumers for a ride... I have highlighted some of the issues and believe we must have a strict policy to ensure following
a. Protect interest of consumers
b. Does not impact to local business badly essentially it should be a fair playing and policies needs to be in place to ensure that none of these entities get undue advantage
c. Only on Internet sale which is picking as new trend needs to be banned, this is like monopoly and we have strong framework to desist such moves

Some of the common issues found are
> Sale , Promotions ... to lure customers and sell good at same or even higher prices, in future they should clearly identify the quantity so that users know that they are simply fooling them
> Sale, Promotions have very few items on sale post which users end up buying goods at same price
> eCommerce sites cancel the order providing lame excuses consumers have no protection as they mention that this is part of their policy that they can cancel the order anytime
> No penalty on eCommerce site when they cancel customer order... as a consumer I pay penalty everytime i commit a mistake say late payment , cheque not honoured etc... why not a similar commitment fro eCommerce companies when they are unable to honour their commitment
> Speculation resorted by eCommerce companies when they believe that certain products are in demand they immediately list them as out of stock and then sell them through different set of sellers at higher price... though may be legal this is certainly not ethical... we can identify a timeline for which the commitment has to be met...
> Need a monitoring body to watch any such fradulent schemes run and take strict actions against offenders

I would request the core teams to also take the issue for further discussion and action. more