ED seizes Rs 107 crore from Chinese loan app firm

A Chinese-controlled instant loan app firm, PC Financial Services Private Limited (PCFS), was booked by the Enforcement Directorate (ED) for violating the Foreign Exchange Management Act (FEMA) and Rs 107 crore lying in its bank accounts seized on Thursday.

ED seizes Rs 107 crore from Chinese loan app firm
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A Chinese-controlled instant loan app firm, PC Financial Services Private Limited (PCFS), was booked by the Enforcement Directorate (ED) for violating the Foreign Exchange Management Act (FEMA) and Rs 107 crore lying in its bank accounts seized on Thursday.