ED

ED Conducts Raids at 11 Locations in Delhi-NCR, Uttarakhand in Major Cyber Fraud Probe
06 Aug

ED Conducts Raids at 11 Locations in Delhi-NCR, Uttarakhand in Major Cyber Fraud Probe

Rajeev Sharma0 CommentsIndia,
National Times Bureau :- Enforcement Directorate (ED) has launched a major operation in an international cyber fraud case. On Wednesday morning, the ED conducted search operations at 11 locations in Delhi-NCR and Dehradun, the capital of Uttarakhand. The cyber fraudsters had impersonated police officers or investigating officials to defraud numerous foreign and Indian citizens. Investigation Under PMLA These raids are part of an ongoing investigation under the Prevention of Money Laundering Act (PMLA), based on FIRs registered by the Central Bureau of Investigation (CBI) and Delhi Police. Besides Delhi, the ED conducted raids in Noida and Gurugram on Wednesday morning.…
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ED Accuses Myntra of ₹1,654 Crore FEMA Violation Over FDI Misuse in Retail Structure
23 Jul

ED Accuses Myntra of ₹1,654 Crore FEMA Violation Over FDI Misuse in Retail Structure

Rajeev Sharma0 CommentsBusiness, , , , ,
National Times Bureau, July 23, 2025: The Enforcement Directorate (ED) has filed an official complaint against Myntra Designs Private Limited and its related entities and directors for allegedly violating the Foreign Exchange Management Act (FEMA), involving Foreign Direct Investment (FDI) of ₹1,654.35 crore.The action follows a detailed investigation that, according to a senior ED official, revealed Myntra misrepresented its business model by posing as a wholesale trader while conducting multi-brand retail trading (MBRT). This approach reportedly violated India’s FDI norms, which restrict foreign investment in direct retail.The ED claims Myntra received FDI while identifying itself as a wholesale cash-and-carry business.…
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