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ED freezes Rs 46 funds of PayTm, Razorpay & other payment gateways

Following the most recent raids in the Chinese loan app issue, the Enforcement Directorate (ED) has reacted strongly. EasyBuzz, Razorpay, Cashfree, and Paytm’s virtual accounts as well as other bank accounts held by the central investigation agency ED have had a total of Rs 46.67 billion blocked.

The ED has told in the information given on Friday that in the action taken in the Chinese app case, a total amount of about Rs 46.67 crore has been frozen in various bank accounts and virtual accounts. According to the investigating agency, a total of Rs 33.36 crore has been found with Ezbuzz Pvt Ltd, Pune, while Rs 8.21 crore has been received with Razorpay Software Pvt Ltd, Bangalore. Similarly, Rs 1.28 crore found with Cashfree Payments India Pvt Ltd, Bangalore, Rs 1.11 crore found with Paytm Payments Services Ltd, New Delhi have been seized.

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