Paytm stcok falling contineouly amid repots of ED probing it’subsidery Paytm Payment Bank.The company clearified that there is no FEMA case being filed against the company by ED.
The statement by the company reads, “This is to further clarify that One 97 Communications Limited (‘Company”), its subsidiaries and its associate, Paytm Payments Bank Limited, have over time been receiving notices and requisition for information, documents and explanations from the authorities, including Enforcement Directorate (ED), with respect to the customers that may have done business with the respective entities, and provided the required information, documents and explanations to the Authorities.”
“The Company and its associate have continued to provide such information, documents and explanations to the Authorities as is being required by them. We would also like to clarify that our associate Paytm Payments Bank Limited does not undertake Outward Foreign Remittances. We have always made and will continue to make disclosures with our obligations under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,” One97 further said.
