Image for ED files Fema case against Myntra for Rs 1,654 crore FDI violationAgencies
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…