Quick commerce platform Zepto has disclosed in its updated draft red herring prospectus that cofounders Aadit Palicha and Kaivalya Vohra received a summons from the Directorate of Enforcement on April 8, seeking information under the Foreign Exchange Management Act, 1999.
The Enforcement Directorate sought details on foreign investments and overseas investments, audited balance sheets since FY21, owned immovable properties, shareholding pattern, loans and guarantees, income tax returns, bank accounts, and a note on Zepto’s business model, according to the updated prospectus.
