Government blocks 87 illegal loan lending apps under IT Act

The government told Lok Sabha that 87 illegal loan lending applications have been blocked by MeitY under section 69A of the IT Act. The ministry also said action is taken against companies violating the Companies Act while operating through loan apps

New Delhi: The government on Monday said a total of 87 illegal loan lending applications have been blocked after following the due process.

“Ministry of Electronics and Information Technology (MeitY) is empowered to issue blocking directions to block the information for public access under section 69A of the Information Technology Act 2000.

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“So far, after following the due process, MeitY has blocked a total of 87 illegal loan lending applications under section 69A of the Information Technology Act 2000,” Minister of State for Corporate Affairs Harsh Malhotra informed Lok Sabha on Monday.

In a written reply, he also said that regulatory action for inquiry and inspection of books of accounts and investigation under the Companies Act 2013 is taken from time to time against companies, including those indulging in online lending activities through loan apps. “Whenever any violation under the Companies Act 2013 is found on the basis of the above, appropriate legal action is taken,” he said.

The corporate affairs ministry is implementing the Companies Act.