Razorpay among 7 firms charged in loan app case

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.