ED closes FEMA case against Flipkart-owned Myntra after Rs 2.88 lakh compounding settlement
The Enforcement Directorate has closed its FEMA investigation into Myntra over alleged FDI violations of Rs 1,654 crore, after the RBI issued an April 20 compounding order settling Rs 45.88 crore in contraventions for a one-time payment of Rs 2.88 lakh.
ED has closed its FEMA investigation against Flipkart-owned Myntra after RBI issued a compounding order on April 20, settling alleged FDI contraventions worth Rs 45.88 crore for a one-time payment of Rs 2.88 lakh.