Flipkart-Owned Myntra Faces ED Heat Over ₹1,654 Cr FEMA Violation Charges

Flipkart’s fashion platform Myntra is under the Enforcement Directorate’s scanner for alleged violations of foreign direct investment (FDI) norms worth ₹1,654 crore. At the heart of the probe are claims that Myntra used intermediary sellers to exert indirect control over inventory — an act that may breach India’s 100% FDI cap in marketplace models. The ED is investigating if this bypassed FEMA regulations by giving undue advantage to preferred third-party sellers. Myntra has denied all allegations, stating full compliance with Indian law.