Karnataka High Court Asks ED To Respond On De-Freezing WinZo Accounts Against ₹505 Crore Bank Guarantee

The Karnataka High Court has sought the Enforcement Directorate’s response on whether it would consider de-freezing the bank accounts of online gaming platform WinZo Games upon the furnishing of a bank guarantee worth ₹505 crore.

The query arose during the hearing of WinZo’s petition challenging the freezing of its accounts under the Prevention of Money Laundering Act (PMLA). WinZo contended that the freezing of such a substantial amount was disproportionate and severely affected its business operations.

The company argued that it was willing to secure the alleged amount through a bank guarantee while the investigation continues.

The Court asked the ED to clarify its position on the proposal and directed WinZo to place detailed financial disclosures on record. The matter will be heard further.