Why ED Summoned Zepto's Founders Before Its IPO | Explained

Zepto founders Kaivalya Vohra and Aadit Palicha have received summons from the Enforcement Directorate (ED) under the Foreign Exchange Management Act (FEMA).The development comes as the quick commerce giant prepares for a major IPO, with documents submitted in its updated Draft Red Herring Prospectus (DRHP). Both founders appeared before the ED and provided extensive financial details, including overseas investments, audited statements, and business structure. Zepto has cautioned investors that the inquiry may continue and there is no guarantee against future investigations or penalties.