ED Files Case Against Myntra for ₹1,654 Crore FEMA Violation

Imagine a fashion company, Myntra, that received money from foreign investors.

The government says Myntra pretended to be a wholesaler to get this money, when they were really selling directly to you, the customer, like a retailer.

This is against the rules.

Myntra sold most of its stuff to another company they own, called Vector, which then sold to customers.

The government believes this was a trick to get around rules about how foreign money can be used.

Because of this, the government is investigating Myntra for breaking the rules and potentially violating laws related to foreign investment and trade.