The Enforcement Directorate (ED) on Thursday conducted searches across multiple States in connection with an alleged foreign exchange violation case linked to online gaming against Delhi-based Zygarde Technologies Pvt. Ltd. and its related entities, officials said.
Searches were carried out at about 14 premises linked to individuals and companies in Delhi, Gujarat, Madhya Pradesh’s Indore and Srinagar in Jammu and Kashmir, they said.
The action was initiated under the provisions of the Foreign Exchange Management Act (FEMA).
The company could not be contacted for comment on the ED action.
According to officials, the probe was launched on the basis of inputs alleging that Zygarde Technologies had “collected” funds from individuals through payment aggregators for online gaming activities.
The funds were allegedly routed through various entities, including Happy Easygo, and later remitted abroad under the guise of wallet recharges and airline-related transactions, in contravention of FEMA provisions, ED officials alleged.
The Union government banned online money gaming in India in August 2025.
(With inputs from PTI)