Flipkart’s FEMA Trouble Resurfaces — Is a Secret Settlement on the Table?
Flipkart is once again in the spotlight, and this time, it’s not for a mega sale. The e-commerce giant is reportedly facing heat from the Enforcement Directorate (ED) over alleged violations of India’s Foreign Exchange Management Act (FEMA).
But here’s the twist — sources suggest the ED may have quietly offered…
Overview: What Just Happened?
India’s Enforcement Directorate (ED) has filed a formal case against Myntra Designs Pvt. Ltd., a popular online fashion retailer owned by Walmart-backed Flipkart. The case revolves around alleged violations of India’s foreign direct investment (FDI) laws—amounting to a whopping ₹1,654.35 crore.
The agency claims Myntra used a clever workaround to bypass…
