The Directorate of Enforcement (ED) said it initiated action under Section 16(3) of the Foreign Exchange Management Act, 1999 (FEMA), alleging the Flipkart-owned fashion retailer received foreign direct investment (FDI) under the guise of wholesale trading while engaging in multi-brand retail trade, which is restricted under Indian law.
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ED files FEMA complaint against Myntra for ₹1,654 crore FDI violation
गुरुवार, जुलाई 24, 2025
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