Bengaluru, Feb 19 (IANS) The Enforcement Directorate (ED) in Bengaluru has seized assets worth Rs 590 crore from Winzo Pvt. Ltd. and its subsidiary, Zo Pvt. Ltd. under Section 37A of the Foreign Exchange Management Act, 1999. The action followed suspected violations of Section 4 of FEMA, according to an official statement released Thursday.According to the ED, the seized assets include bank accounts, fixed deposits, mutual funds, and bonds linked to the companies.The ED stated: “Winzo is enga…
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Bangaluru, Jan 25 (IANS) The ED filed a chargesheet in a Special Court (PMLA) against Winzo, a company in the business of hosting Real Money Games (RMG) through its mobile application, for cheating and money laundering, an official said on Sunday. The Directorate of Enforcement (ED), Bengaluru Zonal Office, filed the chargesheet on January 23 before the Special Court under the provisions of the Prevention of Money Laundering Act, 2002, said a statement.The ED filed the chargesheet against Winzo …