Walmart's Indian fashion arm Myntra is being investigated for allegedly breaching rules that ban foreign-funded wholesale ...

India's financial crime watchdog filed a complaint against Walmart-backed Myntra, alleging the company violated foreign investment rules by channeling over $191 million through a related-party scheme.

Foreign companies operating in India's booming e-commerce sector face many regulatory and legal challenges from authorities ...

Walmart stock ($WMT) was looking shabbier today after a financial crime investigation into its fashion business Myntra ...

The Enforcement Directorate has filed a case against Myntra for alleged FDI contravention, accusing the platform of engaging ...

The investigation comes at a time when e-commerce firms operating in India, particularly those backed by foreign investment, ...

Walmart may be relooking at the same strategy to leverage Myntra and hope to wean away some Indian diaspora from Amazon. Myntra, along with Flipkart Fashion and Jabong, has a major market share in ...

Flipkart-owned fashion e-commerce giant Myntra is facing heat from the Enforcement Directorate, India's financial crime ...

Competition has heightened dramatically since Myntra, one of India’s first focused fashion e-commerce players, first launched in 2007, was then acquired by e-tail giant Flipkart in 2014, which ...

Walmart bought 77% stake in Flipkart in 2018 for around $16 billion. The deal included Myntra and other group companies of Flipkart, such as fashion portal Jabong.

Walmart had brought 77 percent stake in Flipkart back in 2018 for $16 billion. Flipkart had shut down Jabong in February and has been directing all customers to Myntra ever since.

India's financial crime agency said on Wednesday it was investigating Walmart's fashion business Myntra Designs for allegedly breaching laws prohibiting foreign wholesalers from selling to consumers.