ED alleges Rs 1,654 crore FDI breach at Flipkart-owned Myntra
The Enforcement Directorate has filed a complaint against Myntra. The complaint alleges violations of foreign direct investment norms. Myntra is accused of operating as a multi-brand retail trade under the guise of wholesale operations. The agency claims Myntra received significant foreign investments improperly. These investments totaled Rs 1,654.35 crore. Myntra denies the allegations and pledges cooperation.
The Enforcement Directorate has filed a complaint against Myntra. The complaint alleges violations of foreign direct investment norms. Myntra is accused of operating as a multi-brand retail trade under the guise of wholesale operations. The agency claims Myntra received significant foreign investments improperly. These investments totaled Rs 1,654.35 crore. Myntra denies the allegations and pledges cooperation.
