ED Files FEMA Complaint Against Myntra for Alleged FDI Violation Worth Rs 1,654 Crore

Published On: 23/07/20250.9 min read

In a significant regulatory action, the Enforcement Directorate (ED) has filed a complaint with the Foreign Exchange Management Act (FEMA) authorities against Myntra, alleging a foreign direct investment (FDI) violation to the tune of Rs 1,654 crore. The investigation by the ED suggests that Myntra may have breached certain norms related to FDI regulations.

The probe revolves around alleged discrepancies in investment inflows and the emendation of relevant foreign investment guidelines applicable to the e-commerce sector. This development has caught the attention of investors and market watchers as it could have implications for the compliance framework governing foreign investments in digital and retail platforms.

Myntra, a leading online fashion and lifestyle retailer, faces scrutiny amid tightening regulatory oversight on FDI in the e-commerce industry. The enforcement action underscores the government’s intent to ensure adherence to foreign investment policies and to address violations comprehensively.

While Myntra has not publicly commented on the complaint, this move by regulatory authorities highlights ongoing vigilance in monitoring compliance with FDI norms in India’s fast-evolving e-commerce sector. Market stakeholders are advised to monitor further updates as the investigation progresses.

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