ED alleges Rs 1,654 crore FDI breach at Flipkart-owned Myntra
BENGALURU: The Enforcement Directorate has filed a formal complaint against Myntra Designs Pvt Ltd and its related entities for allegedly violating India’s foreign direct investment (FDI) norms under the guise of wholesale operations.The complaint, filed under Section 16(3) of the Foreign Exchange Management Act (Fema), 1999, alleged contraventions to the tune of Rs 1,654.35 crore…