Myntra Booked by ED Over Rs 1,654 Crore FDI Violation Case

Myntra has been booked by the ED (Enforcement Directorate) over a "₹1,654 crore FDI (Foreign Direct Investment) violation case." The investigation focuses on allegations that the e-commerce fashion retailer operated as an inventory-based model despite claiming to be a marketplace, thereby potentially circumventing foreign investment regulations that restrict FDI in multi-brand retail. This action by the ED underscores the government's stringent scrutiny of FDI compliance in the e-commerce sector, aiming to ensure fair competition and adherence to regulatory frameworks, and could lead to significant penalties and operational restructuring for Myntra.