Archive · 24 Jul 2025
ED Files Complaint Against Company Over FDI Violations
The Enforcement Directorate, a government agency, has accused a company called One Sigma Technologies of breaking financial rules.
The company is accused of improperly receiving a large sum of money from the US, violating the Foreign Exchange Management Act.
The alleged violation is for Rs 913 crore.
The company runs its business through a mobile app called SIMPL.
The investigation started because the ED received credible information.
Enforcement Directorate (ED) filed a complaint against One Sigma Technologies Pvt Ltd.
The complaint is for violating the Foreign Exchange Management Act.
The alleged violation amounts to Rs 913 crore.
The FDI was received from the US, according to the ED.
The company operates the SIMPL mobile application.
- Who
- The Enforcement Directorate and One Sigma Technologies Pvt Ltd (SIMPL) and its Director Nitya Nand Sharma.
- What
- The Enforcement Directorate filed a complaint for contravention of the Foreign Exchange Management Act.
- When
- The official statement was made on Wednesday.
- Where
- Bengaluru, India
- Why
- The ED initiated inquiries based on information that SIMPL received FDI in violation of policy.
- Accused Company
- One Sigma Technologies Pvt Ltd (SIMPL)
- Accused Director
- Nitya Nand Sharma
- Violation
- Foreign Exchange Management Act (FEMA)
- Amount
- Rs 913 crore
- FDI Source
- United States
- Business Operation
- SIMPL mobile application