Enforcement Directorate books Myntra, One Sigma for FEMA violation
BENGALURU: The Directorate of Enforcement (ED), Bengaluru, has filed a complaint against fashion etailer Myntra, and its related entities under the Foreign Exchange Management Act (FEMA), 1999, for allegedly violating foreign investment rules to the tune of Rs 1654,35,08,981 (Rs 1,654.35 crore) under the guise of wholesale trading. The complaint was filed under Section 16(3) of FEMA.
