https://www.taxtmi.com/caselaws?id=781978 AT dismissed the appeal of the appellant NBFC, upholding the action taken under SAFEMA/PMLA arising from its predatory digital lending model. AT found that the NBFC's effective interest rates of 1500-2000% per annum, achieved through exorbitant processing fees and rapid fund rotation, violated RBI's Fair Practices Code and internal pricing guidelines, despite absence of a formal interest-rate cap. AT further held that the NBFC had impermissibly outsourced core management and lending functions, contrary to RBI directions, and was responsible for harassment, blackmail, and extortion by tele-callers, with multiple borrower suicides linked to its business model. en-us Tue, 18 Nov 2025 00:00:00 +0530 Mon, 24 Nov 2025 08:57:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781978 AT dismissed the appeal of the appellant NBFC, upholding the action taken under SAFEMA/PMLA arising from its predatory digital lending model. AT found that the NBFC's effective interest rates of 1500-2000% per annum, achieved through exorbitant processing fees and rapid fund rotation, violated RBI's Fair Practices Code and internal pricing guidelines, despite absence of a formal interest-rate cap. AT further held that the NBFC had impermissibly outsourced core management and lending functions, contrary to RBI directions, and was responsible for harassment, blackmail, and extortion by tele-callers, with multiple borrower suicides linked to its business model. Case-Laws Money Laundering Tue, 18 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781978