ED may fine Flipkart up to Rs 31,800 crore for alleged FDI violations

The Enforcement Directorate (ED) is likely to impose a penalty of up to Rs 31,800 crore on e-commerce giant Flipkart for violating Foreign Direct Investment (FDI) rules, sources said on Thursday. The TV has learnt that the financial probe agency had sent a show-cause notice under the Foreign Exchange Management…