General Information:
Year Founded: April 2022
Jurisdiction:
Noida, Uttar Pradesh, India
Legal Form:
Private company with minimal authorized capital
Status:
Listed as legally active in Indian registries as of mid-2025
Criminal Cases: None
Compliance: Formally ‘clean’, active in the registry, submits basic reports
De Facto: Masks itself as legitimate fintech in the absence of any real operations
Website: transwinpay.com — disabled, not functional
Contacts: Only Gmail addresses, no corporate e-mails
Publicity: No press releases, media mentions, licenses, or digital footprint
👤 Key Figures
Nita Kapoor — Director, Co-founder, Primary Beneficiary
Previously associated with Bhartipay Fintech (excluded from the registry for violations).
Involved in controversial projects, including fitness clubs and MMA tournaments.
Sonu Kumar — Second Director since 2025
Previously worked as a programmer, had no prior business experience.
Jitender Vats (also Vitender Singh) — Freelance Agent
Represented Transpay in international markets on behalf of the fake firm PaymentsMe.
Signs of fraud:
- no offices, employees, customer service, or reporting;
- lack of corporate communications;
- ‘shell’ model used: registration → attracting victims → disappearance;
- project lifespan of 6 to 18 months, after which the website vanishes and activity ceases;
- use of identical domains, partners, and templates;
- fictitious contacts and documents;
- fake PDFs, bank screenshots, and links to fraudulent websites.
Agency Network
The company leveraged Jitender Vats (also known as Vitender Singh) to bring in clients from the United Kingdom and Middle Eastern countries.
Connections to Other Entities
Transpay Solutions Private Limited maintained ties to other operations employing similar, questionable methods:
- Bhartipay Fintech: This was the direct precursor to Transpay. It functioned as a regional agent for the Pay10 payment platform but was eventually shut down due to customer complaints and regulatory intervention.
- Verve Payments: Described as another pseudo-entity promoted by Vats. It was unregistered and operated using a scheme identical to Transpay‘s.
Tactics and Goals
Primary Objective: to deceive cross-border B2B clients under the guise of a fintech service.
Target Audience: Arab countries, the United Kingdom, and the EU.
Cover Sectors: fitness, medicine, and MMA are classic areas used for money laundering.
Consequences and risks:
- damage to the reputation of Indian fintech and its investment climate;
- suspicions of complicity: The Pay10 platform has still not distanced itself from Bhartipay/Transpay.
Public Calls to Action
- Launching an investigation into the company’s activities in India, UAE, and the UK;
- conducting an audit by Pay10;
- introducing international standards for vetting fintech partners.
