Chinese Loan Apps Probe

The Enforcement Directorate Friday said it has filed a charge sheet against payment gateway Razorpay, three fintech companies controlled by Chinese nationals and as many NBFCs and some others in a money laundering probe linked to Chinese loan apps which allegedly cheated numerous people.

The ED on Friday said it has frozen fresh deposits worth Rs. 78 crore following raids at the premises of payment gateway Razorpay and some banks as part of an ongoing money laundering probe against the alleged illegal operations of loan apps "controlled" by Chinese nationals. The searches were carried out at five premises in Bengaluru on October 19...

The ED on Friday said it has frozen fresh deposits worth Rs 78 crore following raids at the premises of payment gateway Razorpay and some banks.

The Enforcement Directorate today said it has frozen Rs 46.67 crore worth funds kept in payment gateways Easebuzz, Razorpay, Cashfree and Paytm after it carried out raids this week against Chinese-controlled loan apps and investment tokens.

The Enforcement Directorate searched the premises of online payment companies including Razorpay Pvt Ltd, Cashfree Payments and Paytm Payment Services Ltd. as part of a probe into a Chinese loan app.

Paytm on Sunday issued a statement claiming that none of the funds frozen by the Enforcement Directorate (ED) in the Chinese loan app case belongs to it or any of its group firms. The ED earlier conducted raids at premises of online payment gateways over the alleged irregularities in instant app-based loans "controlled" by Chinese persons.

The Enforcement Directorate has attached assets of over Rs 76 crore as part of a money laundering probe against certain Chinese ''loan app'' companies.

Two people, including a Chinese national were arrested on Wednesday in connection with the ongoing probe by police against instant app-based lenders, accused of harassing borrowers over repayment.

The Enforcement Directorate Friday said it has filed a charge sheet against payment gateway Razorpay, three fintech companies controlled by Chinese nationals and as many NBFCs and some others in a money laundering probe linked to Chinese loan apps which allegedly cheated numerous people.

The ED on Friday said it has frozen fresh deposits worth Rs. 78 crore following raids at the premises of payment gateway Razorpay and some banks as part of an ongoing money laundering probe against the alleged illegal operations of loan apps "controlled" by Chinese nationals. The searches were carried out at five premises in Bengaluru on October 19...

The ED on Friday said it has frozen fresh deposits worth Rs 78 crore following raids at the premises of payment gateway Razorpay and some banks.

The Enforcement Directorate today said it has frozen Rs 46.67 crore worth funds kept in payment gateways Easebuzz, Razorpay, Cashfree and Paytm after it carried out raids this week against Chinese-controlled loan apps and investment tokens.

The Enforcement Directorate searched the premises of online payment companies including Razorpay Pvt Ltd, Cashfree Payments and Paytm Payment Services Ltd. as part of a probe into a Chinese loan app.

Paytm on Sunday issued a statement claiming that none of the funds frozen by the Enforcement Directorate (ED) in the Chinese loan app case belongs to it or any of its group firms. The ED earlier conducted raids at premises of online payment gateways over the alleged irregularities in instant app-based loans "controlled" by Chinese persons.

The Enforcement Directorate has attached assets of over Rs 76 crore as part of a money laundering probe against certain Chinese ''loan app'' companies.

Two people, including a Chinese national were arrested on Wednesday in connection with the ongoing probe by police against instant app-based lenders, accused of harassing borrowers over repayment.