Chennai: Co-Founder Sachin Bansal Sachin Bansal has transferred Madras High Court challenging Notification of Notification of Hospital 10,600-Crore Fema (State Management State) Notification by the Enforcement Director (ED).
Ed notification was released against the Bansal and others due to alleged non-compliance with a condition in the 2010 Foreign Investment Policy in Consolidation in connection with the issuance of certain FLIPKART group shares to foreign investors during 2009-14.
On Friday, Justice R Mahadevan asked why the authorities failed to take action on alleged violations over the past 12 years.
He then directed Ed to file his response within three weeks.
Sachin Bansal Moves High Court at Notification of Fema Crore Rs 11,000
