Myntra Cleared Of FEMA Charges After RBI Compounds Violations For Rs 2.88 Lakh; ED Closes Probe
RBI has compounded Myntra's FEMA violations tied to delayed APR filings worth Rs 42.85 crore and pending ODI commitments of Rs 3.03 crore on payment of a Rs 2.88 lakh one-time fee. The Enforcement Directorate has consequently closed its probe against the Flipkart-owned fashion etailer, removing a key regulatory overhang.
What happened
RBI compounded Myntra's FEMA violations involving delayed APR filings (Rs 42.85 cr) and pending ODI commitments (Rs 3.03 cr) on a Rs 2.88 lakh one-time fee,
Key facts
- Rs 42.85 crore APR delay
- Rs 3.03 crore ODI
- Rs 2.88 lakh compounding fee
- April 20 2026 order
Why this matters
A clean FEMA slate materially de-risks Myntra's standalone valuation and simplifies diligence for any future carve-out, spin-off, or strategic transaction involving the asset.