Fino Payments Bank MD Rishi Gupta Challenges GST Arrest in Tax Evasion Probe at Telangana High Court
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Fino Payments Bank MD Rishi Gupta Challenges GST Arrest in ₹3000 Cr Tax Evasion Probe
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Storyboard•04-03-2026, 10:03
Fino Payments Bank MD Rishi Gupta Challenges GST Arrest in ₹3000 Cr Tax Evasion Probe
•Fino Payments Bank MD & CEO Rishi Gupta challenged his GST arrest in Telangana HC over an alleged online betting-linked tax evasion case.
•The arrest by CGST authorities is linked to a DGGI probe into ₹3,000 crore suspected routing via banking channels for online betting.
•The broader betting network under scrutiny involves transactions estimated at ₹13,000 crore, with allegations of dummy merchants and GST evasion exceeding ₹30 crore.
•The case comes as Fino Payments Bank seeks RBI approval to convert to a small finance bank, potentially impacting its transition plans.
•The Telangana HC granted the Centre time until March 5, 2026, to file materials, with the next hearing scheduled for March 6.
