ED Confiscates ₹590 Crore Winzo Assets in FEMA Probe Over Overseas Direct Investment

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ED Seizes Rs 590 Crore Assets of Winzo in FEMA Case Over Overseas Direct Investment

ED seizes ₹590 crore assets of Winzo for alleged FEMA violations and illegal overseas gaming investments

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Storyboard•19-02-2026, 17:57

ED Seizes Rs 590 Crore Assets of Winzo in FEMA Case Over Overseas Direct Investment

•The Enforcement Directorate (ED) seized assets worth Rs 590 crore from Winzo Pvt. Ltd. and its subsidiary Zo Pvt. Ltd. under Section 37A of FEMA.
•Winzo allegedly transferred Rs 492 crore to US and Singapore entities as overseas direct investment, but these entities were controlled from India.
•ED found Winzo ran real-money gaming globally, offering games like Ludo and Black Jack, with operations relying on Indian infrastructure.
•Investigation revealed users played against bots without disclosure, and customer withdrawals were restricted, creating a "restrictive withdrawal environment."
•ED estimated "proceeds of crime" at Rs 3,522.05 crore from FY22 to FY26, citing rake commissions from bot games and withdrawal restrictions.

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