ED seizure of ₹51.22 crore from PC Financial Services in micro-loan enforcement
PC Financial Services Private Limited issued asset seizure under FEMA affecting Enforcement Directorate on December 16, 2021.
- Primary
- PC Financial Services Private Limited
- Counterparty
- Enforcement Directorate
- Amount
- $6M
- Structure
- asset seizure under FEMA
- Date
- December 16, 2021
- Sub-sector
- Lending
Regulator enforcement action against fintech lending via predatory mobile app loans, signaling heightened scrutiny of foreign-owned NBFC structures.
Source: thehindu.com