ED . raids

Enforcement department raids Razorpay, Paytm and Cashfree in Chinese loan apps case

The Directorate of Enforcement said Saturday that it is conducting raids on Bengaluru premises for online payment gateways such as Razorpay, Paytm and Cashfree as part of an ongoing investigation against “illegal” smartphone-based instant loans “controlled” by the Chinese. The Law Enforcement Directorate said search operations began Friday in six buildings in the Karnataka state …

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ED conducts new raids in case of Chinese loan applications

The enforcement department on Wednesday carried out new raids against some payment gateways and others in connection with its ongoing investigation of money laundering linked to alleged financial irregularities by instant application-based loan companies “controlled” by Chinese people, official sources said. They said that buildings associated with some payment gateway operators, some companies involved in …

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