ED to investigate Fino Payments Bank for GST evasion
after close1 source ↓written by the desknot a recommendation
The Enforcement Directorate is set to probe alleged GST evasion linked to online gaming transactions routed through Fino Payments Bank. This investigation follows the recent arrest of CEO Rishi Gupta and may involve findings of suspicious fund flows. The Directorate General of GST Intelligence is currently examining the matter.
• Investigation under Prevention of Money Laundering Act
• Potential FIR filing if suspicious activities are confirmed
• Initial findings suggest GST evasion of several crores
Immediate implications for Fino Payments Bank may affect investor sentiment and trading activity.
Not investment advice. For informational purposes only.