There are only a few reliable e commerce websites in India. eBay.in (earlier Baazee) is the largest marketplace, but many of the merchants there are unreliable. After one bad experience there , I stopped buying there.
Since FutureBazaar was advertised and backed by a big company (Pantaloon / Big Bazaar), I have purchased a few things from them. Atleast they will not disappear with your money. They promise delivery of goods in 7 to 21 days, but many times it takes much longer. Some times the goods they deliver are of poor quality (break within 2 days), they will replace it , but the entire process will take a few months.
They were running a big promotion a few weeks ago, and when you tried to make payment through their payment gateway, you were directed to a blank page. This problem continued for about a week. Initially, I thought there was a problem with my browser / PC and tried to make the payment repeatedly. After a few days, some one from FutureBazaar called and said there had been a problem with their system. If I wanted, I could place the order over the phone.
Though FutureBazaar has a very big advertising budget, they should start paying more attention to whether their website is functioning properly.