Menu
BW CFO World
Community for Finance Professionals, Consultants and allied businesses
  • Home
  • News
  • Videos
  • Articles
    • Credit & Capital
    • Economic Trends
    • Financial Compliance
    • Financial Leadership
    • Financial Management
    • Financial Reporting
    • Financial Strategy
    • Risk Management
    • Taxation
  • Featured
  • Nominate for Awards
Close Menu
indian rupee
September 16, 2022

Enforcement Directorate Freezes Rs 46.67 Cr Funds

Urvi Srivastava Financial Reporting assets, freeze, funds

The assets have been frozen under the anti-money laundering law. The pursuits were sent off on September 14 at various premises of the denounced in Delhi, Mumbai, Ghaziabad, Lucknow and Gaya

The Enforcement Directorate on Friday said it has frozen funds worth Rs 46.67 crore kept in with Easebuzz, Razorpay, Cashfree and Paytm. The ED carried raids this week against these Chinese-controlled payment apps and investment tokens. The assets have been frozen under the anti-money laundering law. The pursuits were sent off on September 14 at various premises of the denounced in Delhi, Mumbai, Ghaziabad, Lucknow and Gaya.

16 premises of banks and payment passages in Delhi, Gurugram, Mumbai, Pune, Chennai, Hyderabad, Jaipur, Jodhpur and Bengaluru in regard of an examination connected with an application based token named HPZ and related substances were likewise covered, the government organisation said in an explanation. The tax evasion case originates from an October, 2021 FIR recorded by the cyber crime unit of Kohima Police in Nagaland, it said.

However Cashfree Payments’ spokesperson said, “We continue to extend our diligent co-operation to the ED operations. We were able to provide the required and necessary information within a few hours on the day of enquiry. The operations and on-boarding processes of Cashfree Payments are fully compliant with existing regulations.”

While EaseBuzz spokesperson said, “We, at Easebuzz, would like to clarify that none of the parties mentioned in the ED’s statement belonged to our merchant base. The mentioned entities by authorities were only the counterparties of the merchant, who was using our payment gateway and this merchant had been proactively identified and blocked by us much before the investigation had started, as per our internal risk and compliance process. We intend to fully co-operate with the investigation authorities, as we are committed to ensure that our business operations comply with the existing regulations.”

Urvi Shrivastav

→ Urvi Shrivastav

India’s Economy To Grow By 7.5% In 2022 PM Baba Ramdev Announces Four Patanjali Company IPOs

Related Posts

economy

Financial Reporting

Economy Remains Steady In Recent Months: PHD Chamber

20220714_125227

Financial Reporting

Infosys Reports Strong Growth In Q3, Revenues Jump To Rs 38,318 Cr

20211201_100953-1

Financial Reporting

Tech Mahindra, Microsoft Collaborate To Deliver Cloud-powered 5G Core Network Modernisation For Telcos

Movements

  • zUah2lDb_400x400Deloitte India Named Romal Shetty As CEO For Four-Year Term
  • cfo imageVishnuhari Pareek Named As Head Of Finance At Arkam Ventures
  • thumbnail_Sidharth1Siddharth Sehgal Is New CFO Of BeatO
  • Business men giving a handshake. Business conceptRamamurthy Becomes MD, CEO of BSE, SEBI approves appointment
  • 1554629557880Arvind Agarwal Resigns Nykaa, Joins PayU India As CFO

Selected Stories

  • economyEconomy Remains Steady In Recent Months: PHD Chamber

    Read more

  • 20220714_125227Infosys Reports Strong Growth In Q3, Revenues Jump To Rs 38,318 Cr

    Read more

  • 20211201_100953-1Tech Mahindra, Microsoft Collaborate To Deliver Cloud-powered 5G Core Network Modernisation For Telcos

    Read more

  • oil and pulsesIndia Likely To Halt Duty-free Soybean Oil Imports From April 2023

    Read more

  • Business men giving a handshake. Business conceptHindustan Unilever Acquires 51% Stakes In Zywie Ventures, Makes A Foray Into Wellness Market

    Read more

Categories

  • Accounting
  • CFO Stance
  • Credit & Capital
  • Economic Trends
  • Featured
  • Financial Compliance
  • Financial Leadership
  • Financial Management
  • Financial Reporting
  • Financial Strategy
  • Financial Technologies
  • Global News
  • Interview
  • Movements
  • Risk Management
  • Taxation

Recent Comments

    Back To Top
    BW CFO World
    • Home
    • News
    • Videos
    • Articles
      • Credit & Capital
      • Economic Trends
      • Financial Compliance
      • Financial Leadership
      • Financial Management
      • Financial Reporting
      • Financial Strategy
      • Risk Management
      • Taxation
    • Featured
    • Nominate for Awards
    © Copyright BW BUSINESSWORLD 2018. All Rights Reserved.