New Delhi, July 23 -- The Enforcement Directorate (ED) has filed a complaint under the Foreign Exchange Management Act, 1999 (FEMA) against Myntra Designs Private Limited, its related entities, and their directors for alleged violations amounting to Rs 1,654.35 crore, the agency said on Wednesday.

The action was initiated by ED's Bengaluru Zonal Office following credible information that Myntra Designs Private Limited (Myntra) and its related companies are doing Multi Brand Retail Trade (MBRT) in the guise of 'Wholesale Cash & Carry', allegedly in violation of the extant FDI Policy.

ED said its investigation under the provisions of FEMA, 1999 revealed that "Myntra Designs Pvt Ltd had declared that they were engaged in the business of 'w...