Last Updated: February 04, 2024, 23:55 IST
The ED had visited premises of the corporate and another fintech corporations like Razorpay in September 2022 (File Image)
The firm mentioned it has cooperated with the companies throughout any investigations by the authorities on any set of retailers or customers previously
The Enforcement Directorate is neither investigating One97 Communications, proprietor of Paytm model, nor its Founder and CEO Vijay Shekhar Sharma for cash laundering, the corporate mentioned on Sunday.
The ED had visited premises of the corporate and another fintech corporations like Razorpay in September 2022 for cash laundering investigations towards a number of the retailers that have been utilizing their platforms.
“Neither the Company nor its founder and CEO are being investigated by the Enforcement Directorate regarding inter alia money laundering. In the past, certain merchants/users on our platforms have been subject to enquiries and on those occasions, we have always cooperated with the authorities,” Paytm mentioned in a regulatory submitting.
The firm mentioned it has cooperated with the companies throughout any investigations by the authorities on any set of retailers or customers previously.
“We would like to set the record straight and deny any involvement in anti-money laundering activities. We have and continue to abide by Indian laws and take regulatory orders with utmost seriousness,” the submitting mentioned.
The firm is mired into controversy following a current RBI order that barred Paytm Payments Bank Ltd to not take any additional deposits or conduct credit score transactions or perform prime-ups on any clients accounts, pay as you go devices, wallets, playing cards for paying street tolls after February 29.
Paytm Payments Bank Limited (PPBL) is an affiliate of One97 Communications Limited (OCL), which holds 49 per cent of the paid-up share capital (instantly and thru its subsidiary) of PPBL. Sharma has a 51 per cent stake within the financial institution.
