The Enforcement Directorate's investigation of PC Financial Services Ltd (PCFS), a Gurugram-based fintech company giving online loans at usurious rates of interest to crores of Indians, has found that they had illegally transferred ₹429 crore through bogus transactions to its foreign sister concerns, ultimately benefitting its Chinese owners.
An October 7 order by the adjudicating authorities in Chennai slapped PCFS with a fine of ₹2,146.48 crore for these violations under Section 4, 10(6) and 42(1) of the Foreign Exchange Management Act (FEMA). Properties worth ₹252.36 crore of the company in India already seized were ordered for confiscation.
The underlying intent of PCFS was to ingest hard-earned money of susceptible Indian borrowers and transposition the revenue to overseas masterminds, ED sources said.
هذه القصة مأخوذة من طبعة October 11, 2024 من The New Indian Express.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة October 11, 2024 من The New Indian Express.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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