ED Summons Zepto in Parimatch Money Laundering Probe Over Betting Ads on App
Enforcement Directorate has asked Zepto to join its probe into banned betting platform Parimatch, citing ads on the quick commerce app and delivery flyers. Zepto pins blame on a third-party vendor. ED has frozen Rs 112 crore in a Rs 3,000 crore alleged laundering case and is widening scrutiny to other Q-commerce platforms.
What happened
ED has asked Zepto to join its money laundering probe into banned betting platform Parimatch over ads that appeared on Zepto's app and delivery flyers. Zepto
Key facts
- Rs 112 crore frozen
- Rs 3,000 crore alleged
- 17 locations
- Rs 1.2 crore cash
- Rs 50 lakh fine
- 2 years imprisonment
Why this matters
Expect sector-wide ad-vetting protocols to harden; partnership and ad-tech deals now require enhanced due diligence on banned-entity exposure and indemnity clauses.