Payment Gateway not liable under PMLA, 2002 for mere negligence without intent

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:

Please become a Premium member. If you are already a Premium member, login here to access the full content.