ED probes Myntra for alleged FEMA breach — Report

Myntra, the Tiger Global Management and Accel Partners backed ecommerce company, is back in the news this week and not in a nice way. The Economic Times is reporting that the Enforcement Directorate (ED) has initiated investigations into the Bangalore based company for alleged foreign direct investment (FDI) violations. It is being investigated for alleged violations of the Foreign Exchange Management Act (FEMA).

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