New Delhi, 23/7: The Enforcement Directorate on Wednesday said it has registered a FEMA case against Flipkart-backed e-commerce platform Myntra, linked companies and directors for FDI “contravention” of over Rs 1,654 crore.
The complaint has been filed under Section 16(3) of the Foreign Exchange Management Act after the federal agency received “credible information” that Myntra Designs Private Limited, whose brand name is Myntra.
