Notice To Flipkart, Its Founders, 9 Others Over Alleged Forex Violations Flipkart, its founders and 9 others have been issued notice by Enforcement Directorate over alleged forex violations.
Updated: August 05, 2021 10:20 am IST
Enforcement Directorate has issued notice to Flipkart and its founders over alleged forex violation
Flipkart, its founders and nine others have been issued notice by Enforcement Directorate (ED) over alleged forex violations. They have been asked to explain why they should not face a penalty of Rs 10,600 crore for alleged violation of foreign investment laws.
ED sources said that Flipkart violated Foreign Exchange Management Act (FEMA) rules while attracting foreign investments between 2009 and 2015.