eCommerce
ED Offers Flipkart Option To Settle FEMA Case By Paying Penalty
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SUMMARY
The ED last week extended this offer under FEMA’s compounding rules, giving the Walmart-owned company an opportunity to admit its mistake, pay a penalty, and close the case
The ED has been investigating Flipkart for alleged FEMA violations linked to the structuring of its operations, including the creation of seller entities and the inflow of foreign investment between 2009 and 2015
These allegations predate Walmart’s acquisition of a majority stake in Flipkart in 2018
The Enforcement Directorate (ED) has…
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