Flipkart, Amazon and Snapdeal under fire by ED

Allegations of foreign exchange rule violations by some of leading online retail companies have been probed by India's authorities.
Retail companies in news

Allegations of foreign exchange rule violations by some of leading online retail companies have been probed by India's authorities. Most of these retail companies have attracted jaw dropping valuations because of the eCommerce boom.
According to the latest buzz, the Enforcement Directorate (ED) has set its focus on eight such firms for suspected disregard of the Foreign Exchange Management Act (FEMA), an umbrella law that monitors money transfers from abroad.
Some of India’s largest eCommerce companies under ED scanner include Flipkart, and its peers including Snapdeal, Jabong and Amazon's Junglee, among others. Furthermore, these companies refrained to comment on the story.

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