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THE TIMES OF INDIA | May 11, 2021, 23:21:56 IST
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Indian national Soumya Santhosh was one of those killed today from rockets launched from Gaza
22:55 (IST) May 11
We re deeply concerned at violence in Haram Al Sharif. We re equally concerned about evictions in Sheikh Jarrah&Silwan neighbourhoods. Both sides to avoid changing status-quo on ground, says ambassador of India to UN during UNSC meet on escalation in East Jerusalem and related events (ANI)
ED attaches assets worth over Rs 76 cr of Chinese loan app companies ANI | Updated: May 11, 2021 23:27 IST
New Delhi [India], May 11 (ANI): The Enforcement Directorate (ED) on Tuesday issued a Provisional Attachment Order under the Prevention of Money Laundering Act, 2002 (PMLA) attaching Rs 76.67 Crore, lying in various bank accounts and payment gateways pertaining to Chinese Loan App companies and their Indian associates.
The ED initiated investigation on the basis of various FIRs registered by CID, Bengaluru based on the complaints received from various customers, who had availed loan and faced harassment from the recovery agent of these money lending companies.
The amount attached by ED pertain to 7 companies out of which three are Fintech companies namely Mad Elephant Network Technology Private Limited, Baryonyx Technology Private Limited and Cloud Atlas Future Technology Private Limited which are controlled by the Chinese nationals and
ED attaches Rs 76.67 crore of Chinese companies in instant loan app fraud cases
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Last Updated: May 11, 2021, 08:26 PM IST
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Synopsis The Fintech companies have agreement with respective NBFCs for disbursement of loans through digital lending apps. The amount attached by ED also include amount of fee charged by Razorpay Software Private Limited to the extent of Rs.86.44 lakhs for not conducting due diligence in case of one company enrolled with it for disbursement and collection of loans , the release said.
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The agency has claimed that it s probe revealed that these Chinese loan apps offered loans to individuals and levied usurious rate of interest and processing fees.
Updated Feb 28, 2021 | 21:04 IST
MLC Kavitha stands with the family of Chandramohan who died by suicide due to a financial scam. Kavitha to support the education of three daughters of the deceased loan app victim. MLC K Kavitha with the family of the victim
Hyderabad: Earlier in the month of February, responding to reports on the suicide case of Chandramohan who succumbed to financial fraud on a Chinese Loan App, MLC Kavitha stood up for the family of the deceased.
Former MP from Nizamabad swiftly reached out to the family of the victim who succumbed to suicide and offered her unconditional support. The former MP also took Twitter to share the grief of Saritha and her daughters. And within a month, Kalvakuntla Kavitha met Saritha and her daughters she expressed her condolences on the untimely death of Chandramohan. Later, she shared the news of supporting the education of all their daughters until they graduate and a job to the victim s wife at a p
Morning Brief (ET Bureau)
Indulekha Aravind | 17:29 Min | January 19, 2021, 8:00 AM IST
The growing number of unregulated loan apps, many with Chinese links, and the harassment of borrowers has caught the regulator s eye. Srikanth L of advocacy group Cashless Consumer and ET’s Shailesh Menon and Venkat Ananth discuss the modus operandi of these apps, how they proliferated with ease and the red flags to watch out for.
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