NEW DELHI: In another case against Chinese companies in India, the Enforcement Directorate on Tuesday said it has attached bank balance of Rs 77 crore of at least seven financial technology companies controlled by Chinese nationals.
The action included attachment of over Rs 86 lakh of Razorpay, a leading payment gateway, for failing to carry out due diligence on the Chinese firms and facilitating payments to them.
“ED has issued an attachment order under the Prevention of Money Laundering Act attaching Rs 76.67 crore in various bank accounts and payment gateways pertaining to Chinese loan app companies and their Indian associates,” the agency said.
The money laundering probe was initiated by the ED on the basis of FIRs registered by Bengaluru CID after a series of complaints were received by the police. Recovery agents of these Chinese-controlled loan apps harassed and blackmailed borrowers who failed to return the loans.
Earlier, similar actions were taken in Hyderabad and some Chinese nationals were also arrested.