The Enforcement Directorate has conducted searches against one of the directors of Zanmai Lab Private Limited, which owns crypto-currency exchange WazirX, and issued an order to freeze ₹64.67 crore kept in bank accounts.
The action has been taken as part of the probe against several non-banking financial companies (NBFCs) and their fintech partners for alleged predatory lending practices in violation of the Reserve Bank of India (RBI) guidelines. They also allegedly extorted high interest rates from borrowers.
