New Delhi, Aug 5: The Enforcement Directorate (ED) on Friday said it has frozen bank deposits of Rs 64.67 crore as part of a money laundering probe against crypto currency exchange WazirX.

The federal agency said it conducted raids against a director of Zanmai Lab Pvt Ltd, which owns WazirX, on August 3 in Hyderabad and alleged he was "non-cooperative".

The agency's probe against the crypto exchange is linked to its ongoing investigation against a number of Chinese loan apps (mobile applications) working in India.

The agency had charged WazirX last year for alleged contravention of the Foreign Exchange Management Act (FEMA).

"It was found that Sameer Mhatre, Director WazirX, has complete remote access to the database of WazirX, but despite that he is not providing the details of the transactions relating to the crypto assets, purchased from the proceeds of crime of instant loan app fraud."

"The lax KYC norms, loose regulatory control of transactions between WazirX and Binance, non-recording of transactions on block chains to save costs and non-recording of the KYC of the opposite wallets has ensured that WazirX is not able to give any account for the missing crypto assets," the ED alleged in a statement.

It said the company made no efforts to trace these crypto assets.

"By encouraging obscurity and having lax AML (anti-money laundering) norms, it has actively assisted around 16 accused fintech companies in laundering the proceeds of crime using the crypto route," it said.

Therefore, the ED said, equivalent movable assets to the extent of Rs 64.67 crore lying with WazirX were frozen under the Prevention of Money Laundering Act (PMLA).

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Bengaluru, Aug 8: Some students who passed the Pre-University Course (PUC) in 2020-21 but are also writing the Common Entrance Test (CET) in 2022, have approached the High Court.

These students have challenged an alleged note of the Karnataka Examination Authority (KEA) not considering the 2020-21 marks for entrance to professional courses in 2022.

"The marks of students who have passed out in 2021 will not be computed for the purpose of giving ranking in the CET and only the marks obtained in the CET will be taken into consideration for the purpose of granting rankings," the petition cites a KEA note.

A single-judge bench of SR Krishna Kumar heard the petition on Monday.

The Additional Advocate General, Dhyan Chinnappa, informed the High Court, which was hearing the petition, that the counselling of students for admission to professional courses is yet to commence.

The AAG informed the court that the counselling will not commence till the HC hears the petition after which the case was adjourned to August 18.

The petition was filed by Keerthana Y H and a dozen other students.

"Qualifying examination marks are usually higher in the nature of the examinations and the CET markings are usually lower. By excluding the qualifying examination marks, and by taking the CET marks alone for half the proportion would completely disturb the merit matrix of every student," the petition claims.