RBI issues compounding order for FEMA violations in Myntra Designs case

The RBI has issued a compounding order under the FEMA in the case of Myntra Designs Private Limited, involving a one-time payment of ₹2.88 lakh.

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The Reserve Bank of India (RBI) has issued a compounding order under the Foreign Exchange Management Act (FEMA) in the case of Myntra Designs Private Limited, involving a one-time payment of ₹2.88 lakh.The order has been passed following a “no objection” from the Enforcement Directorate (ED). In this case, based on inputs, the ED conducted the investigation into suspected FEMA contraventions, the ED said on Thursday (June 4, 2026).“The case was under investigation while the company filed an application before the RBI for compounding of the said contraventions under FEMA as per the provisions of Section 15 of the Act. On reference from the RBI, the ED issued no objection for such compounding in line with the true spirit of the Act,” the ED said. Published - June 04, 2026 06:43 pm IST