In 2025, the Enforcement Directorate (ED) took a more active enforcement role in India’s startup ecosystem, as scrutiny moved from sector-specific probes to operational intervention. What began with probes focused on online gaming extended during the year to fintech, e-commerce, and cross-border trading platforms.
At least eight startup-origin companies came under ED action. In several cases, the outcomes extended beyond notices and investigations to account freezes, court proceedings, operational disruption, and business shutdowns.
WinZO: Founders…

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