CID takes up probe on fintech startup Jar; HC hears plea for quashing FIR

The Criminal Investigation Department (CID) is investigating fintech startup Jar under the Banning of Unregulated Deposit Schemes Act, 2019, based on an FIR that was registered against the company last month.

Jar has, however, challenged the FIR and has prayed for its quashing with the Karnataka High Court. Justice M Nagaprasanna, who concluded the hearing of both petitioners and the police department on Saturday (February 21), has posted the case for judgment.