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.
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