कोशिश गोल्ड - मुक्त
ED Files ₹1,645 Cr FDI Case Against Myntra
Mint Mumbai
|July 24, 2025
Consolidated FDI Policy disallows foreign ownership of retail ops in India
The Directorate of Enforcement (ED) said on Wednesday it has filed a complaint against Myntra Designs Pvt. Ltd. and its related companies and their directors for allegedly deploying foreign direct investment (FDI) indirectly in retail operations in violation of the Foreign Exchange Management Act, 1999.
ED's Bengaluru zonal office filed the complaint for the alleged contravention to the tune of ₹1,654.35 crore, the agency said in a statement.
"The enquiries in the matter were initiated on the basis of credible information that Myntra Designs Pvt. Ltd and its related companies are doing multi-brand retail trade in the guise of 'wholesale cash and carry', allegedly in violation of the extant FDI Policy," the ED statement said.
यह कहानी Mint Mumbai के July 24, 2025 संस्करण से ली गई है।
हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।
क्या आप पहले से ही ग्राहक हैं? साइन इन करें
Mint Mumbai से और कहानियाँ
Mint Mumbai
Govt may wind up DoT's top policy panel for agility
The government is considering disbanding the 37-year-old Digital Communications Commission (DCC), formerly known as the Telecom Commission, three officials in the know said.
2 mins
June 26, 2026
Mint Mumbai
Refiners eye concessions with Iran oil ready to flow
Rising global oil supplies may trigger concessions, deferred payments.
4 mins
June 26, 2026
Mint Mumbai
NSE stake sale may boost New India Assurance's FY27 profit
New India Assurance Co. (NIACL) stock soared almost 30% in three days to a high of ₹218 on 22 June, before cooling to about 185.
1 mins
June 26, 2026
Mint Mumbai
Airlines race back to West Asia skies as war clouds recede
Indian airlines are racing to restore flights to West Asia, one of their top international markets, after the US-Iran war flare-up disrupted operations.
3 mins
June 26, 2026
Mint Mumbai
India's super rich in a hunt for the next SpaceX
Indian family offices and wealthy investors are widening their bets on private US frontier-technology and artificial intelligence (AI) companies after the SpaceX initial public offering (IPO) gave them a clearer sense of the scale of returns and the size of the market.
4 mins
June 26, 2026
Mint Mumbai
How a crypto exchange became a hub for illicit Iranian cash
Earlier this year, crypto sleuths found an alarming series of transactions tied to two digital wallets controlled by the Central Bank of Iran.
5 mins
June 26, 2026
Mint Mumbai
Vedanta's Navin Agarwal bets big on rare earth magnet production
As India seeks to build its rare earth magnet industry, Vedanta Ltd's executive vice-chairman Navin Agarwal is betting ₹1,250 crore in his personal capacity as initial investment in a privately held manufacturing firm that has enlisted some of the world's top experts for the business.
2 mins
June 26, 2026
Mint Mumbai
Railways will allow industry to design wagons as per need
India plans to raise the railways' share in total freight transport to 45% by 2030
1 mins
June 26, 2026
Mint Mumbai
India can still build AI winners despite US, China lead: Mitra
As capital pours into India’s artificial intelligence and deeptech startups, the country's chances of producing globally significant AI companies are improving—even if the race to build large language models is dominated by the US and China, according to Subrata Mitra, founding partner of venture capital firm Accel’s India arm.
2 mins
June 26, 2026
Mint Mumbai
‘Build foundational AI or risk becoming a mere consumer’
BharatGen, which has built its first model from scratch, warns of a severe talent deficit
3 mins
June 26, 2026
Listen
Translate
Change font size