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ED Files Case Against Myntra Over ₹1,654 Cr FDI Violations
Business Standard
|July 24, 2025
The Directorate of Enforcement (ED) said on Wednesday it has filed a complaint against fashion business Myntra Designs, its related companies and their directors for alleged violations of foreign investment rules amounting to more than ₹1,654 crore.
The investigative agency acted under Section 16(3) of Foreign Exchange Management Act, 1999. ED said that an investigation was done on the basis of credible information that Myntra, which is backed by Flipkart, and its related companies are doing multi-brand retail trade in the guise of "wholesale cash and carry", which is allegedly in violation of India's foreign direct investment (FDI) policy.
Dit verhaal komt uit de July 24, 2025-editie van Business Standard.
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