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The Enforcement Directorate (ED) has reportedly offered e-commerce major Flipkart an option to settle its ongoing Foreign Exchange Management Act (FEMA) violation case through compounding, according to a report by the Press Trust of India (PTI).
The move could potentially bring closure to a years-long investigation into alleged FDI breaches in India’s e-commerce sector.
As per the report, the ED has proposed that Flipkart admit to certain procedural lapses, pay a monetary penalty, and dismantle the seller network linked to the alleged violations….
