New Delhi, March 17
The Enforcement Directorate today said it had filed prosecution complaint (equivalent to a chargesheet) under the PMLA against payment gateway Razorpay, three fintech companies controlled by Chinese nationals and as many NBFCs and some others in a case linked to Chinese loan apps, which allegedly cheated numerous people.
The ED said the special PMLA court in Bengaluru had taken cognisance of the prosecution complaint. A total of seven entities and five individuals had been named as accused in the chargesheet, the agency said.
The entities included fintech companies Mad Elephant Network Technology, Baryonyx Technology and Cloud Atlas Future Technology, all “controlled” by Chinese nationals and three non-banking financial companies (NBFCs) registered with RBI — X10 Financial Services, Track Fin-ed and Jamnadas Morarjee Finance.