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Shopclues Under ED Probe For Potential FDI Violations

Shopclues Under ED Probe For Potential FDI Violations

ShopClues, the Gurugram-based company has come under the radar of the Enforcement Directorate for the way it has raised funds through the US based holding company- Clues Network Inc. The firm is in need of a buyer to avoid collapse. The Enforcement Directorate (ED) has been investigating ShopClues for a potential violation of rules and regulations that come under the Foreign Exchange Management Act (FEMA) since the last two years. The first notice by the ED was sent to the…

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