Rapido Responds to Inquiry: Denies Involvement in Rs 331-Crore Money Trail

Rapido, a ride-hailing firm, has denied involvement in a Rs 331-crore money trail tied to a bike taxi driver's account, under investigation by India's Enforcement Directorate. Despite links to a money-laundering scheme, Rapido asserts no misconduct on its part while cooperating with authorities.

Amid ongoing investigations by the Enforcement Directorate, ride-hailing company Rapido has refuted any connection to the Rs 331-crore money trail discovered in a bike taxi driver's account. The agency is probing alleged money laundering tied to online betting.

Rapido clarified that the driver, a member of their extensive network, may be subscribed to multiple platforms. While verifying records, Rapido emphasized that they uphold high standards of compliance and transparency.

Authorities found multimillion-rupee transactions in a short span, redirecting attention to a lavish wedding potentially linked to a politician. As the inquiry deepens, Rapido continues to cooperate with the Enforcement Directorate.

(With inputs from agencies.)