New Delhi, Feb. 19 -- The Enforcement Directorate's Bangalore Zonal Office, on Thursday, seized the bank accounts, fixed deposits, mutual funds, bonds of M/s Winzo Pvt. Ltd. and its subsidiary M/s Zo Pvt. Ltd. of value Rs. 590 Crore under Section 37A of the Foreign Exchange Management Act (FEMA), 1999 for contraventions under section 4 of FEMA, 1999.

Earlier in the day, the probe attached a balance in the foreign bank accounts, maintained in the USA and Singapore, amounting to USD 55.69 million ( Rs.505 crore), held in the names of overseas shell companies in the Winzo App case, reported ANI.

ED's Bengaluru zonal office attached these movable properties held in the names of overseas shell companies of Winzo Pvt Ltd, Winzo US Inc, USA an...