Karnataka HC Directs WinZO To Furnish Financials Details

by · Inc42

SUMMARY

  • The HC also sought detailed disclosures and financials related to WinZO’s subsidiaries and related entities, both in India and overseas
  • Arguing that the amount frozen by ED was disproportionate to the amount involved in the alleged offence, WinZO has also urged the Court to declare the search operation void
  • Last month, the agency conducted searches at premises linked to the company and froze assets worth INR 505 Cr. The startup’s two cofounders were also arrested