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FEMA case against Myntra closed following compounding: ED
Myntra's foreign exchange violation probe has concluded after the RBI issued a compounding order. The Enforcement Directorate gave its no objection, allowing the e-commerce platform to settle alleged FEMA contraventions involving over Rs 45 crore with a one-time payment of Rs 2.88 lakh. This move aligns with the government's 'ease of doing business' initiative.
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economictimes.indiatimes.com
RBI clears Myntra's FEMA violations after penalty payment; ED closes investigation
The Reserve Bank of India has closed an Enforcement Directorate investigation into Myntra Designs Private Limited. This action follows the RBI compounding certain Foreign Exchange…
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thehindu.com
RBI issues compounding order for FEMA violations in Myntra Designs case
RBI composes a ₹2.88 lakh compounding order for Myntra Designs over FEMA violations, following ED's no objection.
