In compliance with Indian laws, will cooperate with ED on notice: Flipkart

Walmart-owned Flipkart on Thursday said the company is in compliance with Indian laws, including FDI regulations, and will cooperate with the Enforcement Directorate on the notice sent to the e-commerce major.

The Enforcement Directorate (ED) has issued a show cause notice of Rs 10,600 crore to Flipkart and its promoters for alleged violation of the foreign exchange law, official sources said on Thursday.

When contacted, Flipkart said it is in compliance with Indian laws and regulations, including FDI regulations.

“We will cooperate with the authorities as they look at this issue pertaining to the period 2009-2015 as per their notice,” Flipkart added.