TaxTMI 
TaxTMI 
2025 (5) TMI 1999
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....iang Infotech Pvt. Ltd., Pune. The company was providing tele-caller services for the recovery of the loan amount dues. 3. The three companies were doing online instant loan lending business through various applications and sanctioning the personal unsecured loans through digital applications to the borrowers. After one week of sanctioning the loan, the customer data was being provided to M/s Jiya Liang InfoTech Private Limited for calling the borrowers over their phone numbers asking for repayment of loan at the higher rate of interest without following the rules / regulations of RBI. M/s Jiya Liang InfoTech Private Limited procured laptops, desktops and network routers from China and established call-centre(s). Around 650 employees were working in the company. The employees were instructed to use their personal mobile numbers to call the borrowers. They resorted to systematic abusing, harassing and threatening the borrowers and even blackmailing them by sending fake legal notices to their relatives and friends. 4. In reference to the affairs of the Company, 10 FIRs were then registered on different dates in the year 2020 itself. It was found that the Cyber Crime PS Hyderaba....
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....pport their case and in view of the above also, impugned order deserves to be set aside. 8. Ld. Counsel for the appellant did not raise any other issue to press the appeal, though, liberty was given to argue the appeal in reference to any other legal or factual issues. However, the Ld. Counsel for the appellant restricted its argument to the extent referred above. Arguments of the Ld. Counsel for the respondent: 9. The Ld. Counsel has contested the appeal on all the grounds urged by the Counsel for the appellant. It was submitted that the appellant was providing assistance for borrowing and recovery of the borrowed amount and thus it is incorrect to state that the appellant company was not in any manner connected with the main accused for borrowings or recovery of the borrowed amount. Serious allegation exists against the main accused and others for commission of the offence under Section 420 IPC and in the process of recovery of the amount. The accused was not only using abusive language but was causing harassment after getting the personal data of the borrowers. They were sending legal notice to relatives and friends to cause mental torture and otherwise to blackmail the....
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....ously contested by the respondent. The Counsel made reference to the statement of the Ex-Director of the appellant company recorded under Section 50 of the Act of 2002. It was of Shri Anjaneya Vikram Singh, Director of the appellant company. The perusal of the statement made by him shows an admission to assist the main accused to carry out their affairs. Relevant part of the statement is quoted hereunder:- Assisting an NBFC, Krazybee Services Pvt, Ltd. ("Krazybee'") in risk assessment for potential borrowers, and with recovery: In or around August 2018, the Company launched the Mi Credit App The purpose of Mi Credit App was to connect potential borrowers interested in availing loans to potential lenders/creditors. Further, Mi Credit App would allow potential borrowers to fill in the application for the facility (as per details sought by the lenders/creditors) on Mi Credit App itself. Solely for three months, viz. from August 2018 to October 2018, the Company also assisted Krazybee (on NBFC registered with RBI) with the risk assessment of the potential borrowers in terms of an agreement dated September 25, 2018 attached as Annexure J. Krazybee, as the NBFC, was in any e....
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....during the period of 3 months. It was for a sum of Rs. 40,38,500/- while the recovery was made for a sum of Rs. 37,13,588. The subsequent part of the statement of the appellant Ex-Director further shows that while company was not providing instant personal loans but had received fee for services provided to different NBFC and accordingly Rs. 35 to 40 crores was received since 2018 to May, 2022. It is, further, stated that the amount collected from different lenders / partners / intermediaries and others would be furnished within a week but thereafter the Ex-Director of the appellant company did not produce any document to fortify the amount received from the NBFC's. The fact further remains that the appellant was involved and provided assistance to the main accused for attracting the borrowers and after evaluation to make recommendation and thereby was part of the process of disbursement of loan. It is further a fact that the appellant company was providing assistance for recovery of the amount where the modus operandi of the accused company and others was that after a week of disbursement of loan, they used to call the borrowers for repayment at a higher rate of interest. They use....