Delhi High Court Stays Order Of Rs. 96 lakh Penalty Imposed By Financial Intelligence Unit To PAYPAL, Notice Issued To RBI

Directing PayPal to maintain a record of all its transactions, Delhi High Court on Tuesday granted stay on a plea by the payment gateway challenging the imposition of Rs. 96 lakh as penalty on it, for alleged violation of India's money laundering law. The relief is subject to the deposit of Rs. 96 lakh bank guarantee by PayPal before the court within a period of 2 weeks.Justice Pratibha...