India, June 5 -- Fashion ecommerce major Myntra has settled a Foreign Exchange Management Act (FEMA) contraventions case with the RBI by paying a compounding fee of Rs.2.88 Lakh, resulting in the closure of an ED investigation into the matter.

The RBI passed the compounding order on April 20, 2026, under Section 15 of FEMA after the ED issued a no-objection for compounding the violations.

The ED began investigation in the case based on credible information regarding FEMA contraventions by Myntra.

The violations pertained to a delay in filing Annual Performance Reports (APRs) for overseas investments involving Rs.42.85 Cr and undertaking Overseas Direct Investment (ODI)-related financial commitments worth Rs.3.03 Cr despite pending APR ...