{"id":865330,"date":"2024-10-11T09:08:30","date_gmt":"2024-10-11T03:38:30","guid":{"rendered":"https:\/\/telecomlive.in\/web\/?p=865330"},"modified":"2024-10-11T09:12:19","modified_gmt":"2024-10-11T03:42:19","slug":"fema-authority-orders-confiscation-of-rs-252-crore-assets-of-chinese-controlled-loan-app-cashbean","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2024\/10\/11\/fema-authority-orders-confiscation-of-rs-252-crore-assets-of-chinese-controlled-loan-app-cashbean\/","title":{"rendered":"FEMA authority orders confiscation of Rs 252-crore assets of Chinese-controlled loan app &#8216;CashBean&#8217;"},"content":{"rendered":"<p>Assets worth more than Rs 252 crore of an Indian subsidiary of a Norwegian company &#8220;controlled&#8221; by Chinese persons have been ordered for confiscation in a FEMA probe against an &#8220;illegal&#8221; money lending mobile app named &#8216;CashBean&#8217;, the ED said on Thursday. <\/p>\n<p>The Enforcement Directorate said an order, post adjudication, was issued on October 7 against PC Financial Services Pvt Ltd (PCFS) under the Foreign Exchange Management Act (FEMA) along with imposition of a penalty of more than Rs 2,146 crore against the said company.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Assets worth more than Rs 252 crore of an Indian subsidiary of a Norwegian company &#8220;controlled&#8221; by Chinese persons have been ordered for confiscation in a FEMA probe against an &#8220;illegal&#8221; money lending mobile app named &#8216;CashBean&#8217;, the ED said on Thursday. The Enforcement Directorate said an order, post adjudication, was issued on October 7 against PC Financial Services Pvt Ltd (PCFS) under the Foreign Exchange Management Act (FEMA) along with imposition of a penalty of more than Rs 2,146 crore against the said company.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[83,4,22],"tags":[],"class_list":["post-865330","post","type-post","status-publish","format-standard","hentry","category-it-2-the-telegraph","category-newspapers","category-the-telegraph"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/865330","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=865330"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/865330\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=865330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=865330"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=865330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}