The Enforcement Directorate (ED) has filed a complaint against Myntra, a fashion etailer owned by Flipkart, and its related entities under the Foreign Exchange Management Act (Fema), 1999.
Agencies
The Enforcement Directorate (ED) has filed a complaint under the Foreign Exchange Management Act (Fema), 1999, against Flipkart-owned fashion etailer Myntra, and its related entities for allegedly violating foreign investment rules to the tune of Rs 1,654.35 crore.
Key allegations:
Myntra is accused of misusing the wholesale ‘cash & carry’ route to…
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