ED files case against Myntra over Rs 1,654 crore FDI violation; company responds
The Enforcement Directorate has filed a complaint under Fema against Myntra, its entities, and directors for alleged FDI violations worth Rs 1,654.35 crore, accusing the company of misusing the wholesale trade route for multi-brand retail. Myntra, a Walmart unit, responded saying it has not received the complaint or documents and remains committed to cooperating with authorities.
The Enforcement Directorate has filed a complaint under Fema against Myntra, its entities, and directors for alleged FDI violations worth Rs 1,654.35 crore, accusing the company of misusing the wholesale trade route for multi-brand retail. Myntra, a Walmart unit, responded saying it has not received the complaint or documents and remains committed to cooperating with authorities.
