The Enforcement Directorate (ED) has reportedly offered e-commerce giant Flipkart, an option of closing a FEMA (Foreign Exchange Management Act) violation case in certain conditions. ED has offered Flipkart to admits its mistake and pays a penalty, as PTI reported.

"ED has given the option of compounding to Flipkart. ED has asked Flipkart to admit its mistake, pay a penalty and dismantle the seller network associated with it."

As per reports it is done to 'allow companies to voluntarily admit breach of the provision under the FEMA and settle the case by paying a penalty for the contraventions without undergoing lengthy enforcement actions.'

The alleged of violations of FEMA provisions by Flipkart and its associated entities is from the year 2009 and 2015, even before Walmart acquired m

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