Case Law Details
Razorpay Software Private Limited Vs Union of India (Karnataka High Court)
In the case of Razorpay Software Private Limited vs Union of India, the Karnataka High Court examined whether the accused, a payment gateway, could be held liable under the Prevention of Money Laundering Act, 2002 (PMLA), for allegedly facilitating illegal money lending activities without knowingly participating in criminal activity or having the intent to launder money. Here’s a summary of the judgment:
Background: The accused, Razorpay Software Private Limited, was alleged to have facilitated illegal money lending activities by allowing transactions in the name of another accused entity without proper due diligence.
Allegations: The complaint filed by the respondent alleged that the accused payment gateway facilitated transactions for an entity involved in illegal money lending, leading to harassment of borrowers and misuse of data.
Legal Arguments:
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