ED slaps Rs 10,600-cr FEMA contravention notice against Flipkart

Updated: few hours ago

New Delhi, Aug 5 (PTI) The Enforcement Directorate (ED) has issued a show cause notice of about Rs 10,600 crore to e-commerce major Flipkart and its promoters for alleged violation of the foreign exchange law, official sources said on Thursday.

They said the notice under various sections of the Foreign Exchange Management Act (FEMA) was issued to 10 people last month that includes Flipkart, its founders Sachin Bansal and Binny Bansal, among others.