Paytm Clarifies It Is Not Facing ED Probe
One97 Communications, The Parent Company Of Fintech Firm Paytm, Refuted Reports That The Company Is Facing A Probe By The Enforcement Directorate (ED).
In A Statement, The Business Stated That They “Categorically Deny Any Investigation By The Enforcement Directorate On OCL, Our Associates And/Or Its Founder & CEO For Anti-Money Laundering Activities.” “Neither The Company Nor Its Founder And CEO Are Being Investigated By The Enforcement Directorate Regarding Inter Alia Money Laundering,” Said The Business.
The Purpose Of This Statement, According To One97 Communications, Is To Correct “Misinformation, Factual Inaccuracies, And Speculation.”
“We Are Making This File To Maintain Transparency And To Shield Our Stakeholders, Customers, Stockholders, And Reputation From Unfounded Or Speculative Reports. We’ll Keep Providing These Clarifications As Needed,” The Business Declared.
The Company Said In The Past, Certain Merchants/Users On Its Platforms Have Been Subject To Enquiries And On Those Occasions, The Company Cooperated With The Authorities.
“To Clear Up Any Confusion, We Firmly Reject Any Participation In Any Anti-Money Laundering Initiatives. We Have Followed Indian Law And Will Continue To Do So, And We Take Regulatory Orders Very Seriously,” The Business Said In A Statement.
Source : By The Week via Dailyhunt
