Odisha EOW Freezes Funds Worth Rs 1.45 Crs Of Illegal Online Loan Apps

Bhubaneswar: In connection with a case involving unlawful digital lending, the Economic Offences Wing (EOW), Bhubaneswar, has frozen the funds of Nitin Malik, Director of M/s Right Start Business Pvt. Ltd., amounting to Rs 1.45 crore.

According to reports, recovery agents of the digital lending app “Kredit Gold” are accused of harassing, extorting, and torturing consumers by sending embarrassing, abusive messages and altered photos.

Initial investigations revealed that M/s Good Start Business Pvt. Ltd. and M/s Right Start Business Pvt. Ltd., were not registered as Non-Banking Financial Companies (NBFC) with the Reserve Bank of India (RBI).

The EOW in a statement said, “The companies were illegally operating as digital lenders. It is suspected that this international gang is running at least 10 such illegal loan apps. The accused Nitin Malik became the Director of M/s Good Start Business Pvt. Ltd. and M/s Right Start Business Pvt. Ltd. at the instance of some Chinese mastermind/bosses”.

Nitin Malik, the suspect who was detained earlier this year, was in communication with at least three Chinese citizens on a regular basis and used to receive a sizable salary for this position.

Neerav Gupta, another defendant in the case, was also detained and is currently in judicial custody alongside Malik.