Enforcement Directorate has shut its FEMA probe into Myntra after RBI's April 20 compounding order. The Flipkart-owned fashion e-tailer paid Rs 2.88 lakh to settle Rs 45.88 crore in alleged FDI contraventions, drawn from a wider Rs 1,654 crore investigation into multi-brand retail FDI routing.

ET Small Business · 6/4/2026, 7:56:03 PM

The central bank shut its FEMA probe into fashion e-tailer Myntra after the Enforcement Directorate cleared compounding. Myntra paid a one-time ₹2.88 lakh fee to settle alleged contraventions tied to transactions worth ₹46 crore, drawing a line under a long-running regulatory overhang for the Walmart-backed platform.

Business Standard · Companies · 6/4/2026, 5:03:09 PM

RBI has compounded Myntra's FEMA violations tied to delayed APR filings worth Rs 42.85 crore and pending ODI commitments of Rs 3.03 crore on payment of a Rs 2.88 lakh one-time fee. The Enforcement Directorate has consequently closed its probe against the Flipkart-owned fashion etailer, removing a key regulatory overhang.

NDTV Profit · 6/4/2026, 3:14:55 PM

Enforcement Directorate has dropped its foreign exchange probe against Flipkart-owned Myntra after the fashion retailer paid ₹2.88 lakh to compound two FEMA violations covering roughly ₹46 crore in transactions, following RBI's April 20 compounding order.

The Hindu BusinessLine · 6/4/2026, 3:04:28 PM

Myntra closes a regulatory overhang as RBI accepts a one-time Rs 2.88 lakh compounding fee for delayed Annual Performance Reports and Rs 3.03 crore ODI commitment lapses. The Enforcement Directorate has wound up its July 2025 investigation into FDI contraventions exceeding Rs 1,654 crore.

ET Small Business · 6/4/2026, 12:22:59 PM