Razorpay — Account deactivated without notice & money held for 120 days!

Address:

Bangalore

I recently started an coaching institute and based on my friends suggestion I reached out to Razorpay to facilitate a payment gateway. The account was approved through KYC and there hasn't been any issues since then. The test payments were being successfully settled to my account.

However, when the day my business went live, the payments of my clients that came through Razorpay have been stuck in Razorpay. The very next day, I get a notification that the account is blocked and cannot provide any services.

Why should that happen when am live with my business and have provided the details of the payment gateway to all my clients?

Just because Razorpay notice some huge payments (of Rs, 40k) how can they suspend the account without any notice?

Furthermore, the worst part is that they have a holdback period of 120 days - which I don't understand. Do they intend to make money by holding it back for such long period?

I'd like to raise this issue against Razorpay for holding back my clients' payments towards my services and neither settling it to me nor to my clients.