ED files complaint under FEMA against Myntra Designs and its related companies
The Enforcement Directorate has filed a complaint under FEMA against Myntra Designs Pvt. Ltd., its related companies, and directors for alleged FDI violations amounting to ₹1,654 crore. ED said Myntra misused the 'wholesale cash and carry' model to carry out multi-brand retail trade, routing 100% of sales to a related entity, Vector E-Commerce, violating FDI rules and FEMA provisions.
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NDTV
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- NDTV
Kidneys Removed During Uterus Surgery; Probe Agency ED Case Against Fake Doctor
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India Today
2 hours ago
- India Today
ED to seize properties worth Rs 75 crore linked to Chhangur Baba
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Hindustan Times
3 hours ago
- Hindustan Times
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Chandigarh, The Enforcement Directorate has frozen bank deposits worth ₹21 crore as part of a money laundering investigation linked to "illegal" sale of drugs by private de-addiction centres in the northern state, official sources said Wednesday. ED freezes bank deposits worth ₹ 21 cr in 'illegal' drugs sale case by Punjab de-addiction centres The agency had conducted searches at multiple locations in Punjab apart from some in Mumbai on July 18. The federal probe agency's investigation stems from various FIRs filed by Punjab Police against a doctor named Amit Bansal, a pharmaceutical company, a drugs inspector and some others. Bansal runs 22 drug de-addiction centres across Punjab, the sources said. Bank deposits worth ₹21 crore have been frozen under the Prevention of Money Laundering Act , the sources said. Officials had said private de-addiction centres like the ones run by Bansal have been entrusted by the Punjab government to provide BNX medicine to patients enrolled in their facilities, so that they can be weaned away from narcotics. It was found that these medicines meant for rehabilitation of drug addicts were allegedly being taken in "excess" quantity for a "new kind of drug abuse", they said. The sources claimed Bansal, through his de-addiction centres, "misused" the facilities and was involved in "illegal" sale of such drugs. A drugs inspector named Rupinder Kaur was also searched as the official allegedly assisted Bansal in forwarding incorrect inspection report related to pilferage of medicine from his hospitals, as per the sources. A pharma company named Rusan Phrama Limited, manufacturer of BNX, was also covered during the action that day. Medicine stock register, property purchase agreements and other documents "critical" in establishing the financial trail and uncovering the modus operandi of the entities involved were seized on July 18, the agency had said in a statement. This article was generated from an automated news agency feed without modifications to text.
