Enforcement Directorate (ED) is looking into fashion e-retailer Myntra for possible violation of foreign direct investment (FDI) norms under Foreign Exchange Management Act (FEMA), reports The Economic Times. A Myntra spokesperson told the publication that the company complies with all government regulations and that it will cooperate with all government agencies. The investigation comes at a time when Myntra is in acquisition talks with e-commerce website Flipkart. That deal however seems to be stalled as of now, with Myntra seeking independence even after the acquisition. As of now, it is not clear how this investigation will affect the deal between the two companies. The company had raised $50 million earlier this year from Azim Premji's investment arm Premji Invest and others. Other investors in the company include Tiger Global and Accel Partners. Accel Partners and its investment partner, Tiger Global…
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