Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
ED files FEMA plaint against Myntra for breaching FDI rules
Hindustan Times Chandigarh
|July 24, 2025
The Enforcement Directorate has filed a complaint under Foreign Exchange Management Act (FEMA) against online fashion retailer Myntra, affiliate companies, and its directors for alleged contravention of over ₹1,650 crore, agency officials said on Wednesday while adding that the e-commerce platform was “actually carrying out multi-brand retail trading in the guise of wholesale cash and carry”.
The ED has been investigating several e-commerce platforms since 2014 for alleged violation of foreign direct investment (FDI) norms. India’s foreign investment rules do not allow any foreign investment in multi-brand retail. That means foreign e-commerce companies are allowed to operate platforms, but not control the companies selling on the platforms (th
This story is from the July 24, 2025 edition of Hindustan Times Chandigarh.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Hindustan Times Chandigarh
Hindustan Times Chandigarh
Russian hard line on Kyiv ceasefire jeopardises Putin-Trump summit
A planned summit between US President Donald Trump and Russian President Vladimir Putin was put on hold on Tuesday, as Moscow’s rejection of an immediate ceasefire in Ukraine cast a cloud over attempts at negotiations.
1 mins
October 22, 2025
Hindustan Times Chandigarh
Bastion breached: Mosquitoes found in Iceland for first time as warming climate triggers buzz
NOT COLD ENOUGH ANYMORE
1 mins
October 22, 2025
Hindustan Times Chandigarh
Asia Cup trophy impasse heading to ICC meeting
There is no end in sight to the Asia Cup trophy impasse.
2 mins
October 22, 2025
Hindustan Times Chandigarh
Indian, Chinese soldiers exchange Diwali sweets
Indian and Chinese soldiers exchanged sweets on Diwali as a goodwill gesture along the line of actual control (LAC) that stretches from Ladakh to Sikkim and Arunachal Pradesh, officials said on Tuesday.
1 mins
October 22, 2025
Hindustan Times Chandigarh
Japan elects its first woman PM
Victory secured after coalition sealed
3 mins
October 22, 2025
Hindustan Times Chandigarh
Kabul ‘technical mission’ upgraded to an embassy
India on Tuesday announced the upgrading of its diplomatic presence in Afghanistan from the status of a technical mission in Kabul to a full-fledged embassy as part of its engagement with the Taliban while stopping short of a formal recognition of the regime that came to power in August 2021.
1 mins
October 22, 2025
Hindustan Times Chandigarh
Adaptation to be a key issue at COP30
Adaptation will be a central issue at the 2025 UN Climate Change Conference (COP30) in Brazil's Belem, with parties expected to agree on adaptation indicators and work to close the adaptation finance gap, UN Climate Chief Simon Stiell said on Tuesday.
1 mins
October 22, 2025
Hindustan Times Chandigarh
China slams 'arms race' as Aukus moves forward
On Monday, US President Donald Trump said the Aukus pact between was “moving along very rapidly,” signalling he would allow the Biden-era partnership to go ahead even as his administration reviewed whether to keep it going, Bloomberg reported.
1 mins
October 22, 2025
Hindustan Times Chandigarh
'In world of crises, Bharat symbol of stability, sensitivity'
Dear fellow citizens, I extend my heartfelt greetings to all of you on the auspicious occasion of Deepavali, a festival filled with energy and enthusiasm.
1 mins
October 22, 2025
Hindustan Times Chandigarh
Electronic evidence on trial: Courts must clarify
In this digital communication era, liberty, rights and conflicting claims are largely dependent on the authenticity of electronic records relied on by parties to disputes.
3 mins
October 22, 2025
Listen
Translate
Change font size