ED files ₹913 crore FEMA violation case against Simpl
ED has filed a foreign exchange violation case against Simpl's operating firm-One Sigma Technologies, and its Director Nithya Nand Sharma for alleged contravention of FDI rules to the tune of ₹913.75 crore. ED alleged that foreign investment meant for technology-related products and services was used for financial services without government's approval. The case is filed under the FEMA Act, 1999.