The Enforcement Directorate conducted searches at six Bengaluru locations linked to Razorpay Private Limited, Cashfree Payments, Paytm Payment Services Limited and entities controlled or operated by the suspects based in China, in connection with the micro-loan App case.
The agency has also seized ₹17 crore kept in the Merchant IDs and bank accounts of the entities that ran the Apps.
The investigation is based on 18 First Information Reports registered by the cyber crime police in Bengaluru City against a large number of entities and individuals for their alleged involvement in the extortion and harassment of those who had taken small loans through the mobile Apps run by them.
