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…
