In this regard, the spokesperson of the company said that Ed No new information was examined in this search. ED has sought information about certain merchants from various payment service providers. “We have provided the necessary information,” the spokesperson said. Earlier this month, six premises of Paytm and PayU were searched in Bengaluru. ED has Told It was learned that it has raided the premises of some online payment gateways. These include Paytm, Razorpay and Cashfree.
Paytm said in a regulatory filing, “ED has sought information about merchants to whom we provide payment processing solutions. We wish to clarify that these merchants are separate entities and none of them are entities of our group.” Is.” Paytm had told that ED has not directed to block any merchant linked to it or its group entities. According to a report, the ED has seized funds of around Rs 17 crore kept in some merchant accounts linked to Chinese citizens. ED had conducted these raids under the Prevention of Money Laundering Act (PMLA).
China’s Alibaba Group has a stake in One 97 Communication. The ED recently served notices to crypto exchanges CoinDCX, WazirX and CoinSwitch Kuber. These exchanges will be investigated in cases of money laundering and violation of foreign exchange law. Apart from ED, authorities related to Foreign Exchange Management Act (FEMA) will also be part of the investigation. A CoinSwitch spokesperson told Gadgets 360, “The crypto segment is an early-stage industry and has great potential. We’ve received inquiries from various government agencies.”