The firm used to offer credits to individuals from the general population and later annoy them by charging excessive handling expenses and financing costs. The charged purportedly offended the borrowers by sharing their credit subtleties with their companions, CCB added. Two men working at the firm have been captured.
Police said they got believable data that bank were being opened utilizing accreditations of those working in Licorise Technology Pvt Ltd at Silver Spring Layout in Munekolala close to Marathahalli.
The workplace was attacked on Wednesday and examinations uncovered that Chinese nationals were running the firm, which had created cash loaning portable applications like Cash Master and Krazy Rupees.
The firm had gone into a concurrence with Non-Banking Financial Companies and was loaning cash to individuals through the applications.
They charged an extreme handling expense and when the credit was dispensed, the staff began settling on telephone and web decisions to borrowers, bothering them to pay the interest consistently.
The loan fees were extreme as well. Chinese nationals gathered records, for example, Aadhaar and PAN cards from the staff and had enrolled 5-6 organizations in their names. Absolutely, around 52 organizations have been enrolled and ledgers were opened with private banks.
According to the primer examination, crores of rupees have been shipped off China through internet based exchanges from these records
A case has been enrolled with the Marathahalli police who have booked the denounced under the Karnataka Money Lenders Act, IT Act, Karnataka Prohibition of Charging Exorbitant Interest Act, the Banning of Unregulated Deposit Schemes ACT and the IPC.
