The Delhi High Court has stayed the penalty of Rs 96 lakhs on ‘PayPal Payments Private Limited ‘ imposed by the Financial Intelligence Unit for violation under the Prevention of Money Laundering Act
The Bench of Chief Justice D. N. Patel and Justice Prateek Jalan, Delhi High Court today heard a PIL to hold institutions like the Reserve Bank of India and companies like Google Pay accountable for facilitating financial transactions without the requisite authorisation from RBI.