Corporate Watch: ED files case against Myntra for alleged ₹1,654-cr FDI rule breach under FEMA, cites multi-brand retail violations.
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The complaint has been filed under Section 16(3) of the Foreign Exchange Management Act after the federal agency received 'credible information' that Myntra Designs Private Limited, whose brand name is Myntra, and its related companies are doing multi-brand retail trade in the guise of 'wholesale cash and carry'.