In the midst of the Paytm catastrophe, in which a latest RBI order has confined Paytm Payments Bank Ltd from further deposits and credit score transactions, the business enterprise has clarified that neither the business enterprise nor its founder and CEO, Vijay Shekhar Sharma, are below investigation with the useful resource of the Enforcement Directorate (ED) for cash laundering.
In a regulatory filing, Paytm stated, “Neither the Company nor its founder and CEO are being investigated through the Enforcement Directorate regarding inter alia money laundering.” The business enterprise emphasised its cooperation with authorities in past investigations associated with fantastic traders or users on its structures, denying any involvement in anti-cash laundering sports activities and reaffirming its commitment to abiding with the aid of Indian legal guidelines.
This rationalization comes after the RBI’s order which bars Paytm Payments Bank Ltd from undertaking diverse monetary activities after February 29.
In reaction to those dispositions, the Confederation of All India Traders (CAIT) has recommended Paytm clients to do not forget the use of alternative fee apps for his or her transactions, citing potential monetary disruptions because of the RBI restrictions.
