365Telugu.com online news,New Delhi,Marach 3rd,2025: Shares of Paytm’s parent company, One97 Communications, plunged over 4% on Monday after the Enforcement Directorate (ED) issued a notice to the fintech firm for alleged violations of FEMA (Foreign Exchange Management Act) rules related to certain investment transactions involving the company and its two subsidiaries.
The company’s stock dropped 4.39% to ₹683.55 on the National Stock Exchange (NSE) and 4.37% to ₹685 on the Bombay Stock Exchange (BSE).
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ఇది కూడా చదవండి…హైదరాబాద్లో లగ్జరీ ఇంటీరియర్ డిజైన్కు నూతన ఒరవడి – ది చార్కోల్ ప్రాజెక్ట్ కొత్త గ్యాలరీ గ్రాండ్ ఓపెనింగ్
The broader market was also trading in the red, with the BSE Sensex declining 271.22 points (-0.37%) to 72,926.88, while the NSE Nifty fell 93.60 points (-0.42%) to 22,031.10 in the late morning session.
In a regulatory filing on Saturday, Paytm confirmed receiving the ED notice regarding alleged FEMA violations by the company and its subsidiaries-Little Internet Pvt Ltd (LIPL) and Nearbuy India Pvt Ltd (NIPL)-linked to specific investment transactions.
However, Paytm clarified that the alleged breaches occurred before these companies became its subsidiaries.
“We hereby inform that a show cause notice was received by the company on February 28, 2025, from the Directorate of Enforcement,” Paytm stated.
The notice pertains to alleged FEMA violations between 2015 and 2019 related to the acquisition of LIPL and NIPL (formerly Groupon India), involving certain directors and officers.
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According to Paytm, the notice does not specify a direct financial impact but alleges violations concerning transactions worth ₹611 crore:
- One97 Communications (OCL): ₹245 crore
- LIPL: ₹345 crore
- NIPL: ₹21 crore
The company stated that these violations are linked to past investment transactions of these entities before they became Paytm’s subsidiaries.
Paytm assured that this issue does not affect its operations, services, or security for consumers and merchants. The company is seeking legal advice and evaluating appropriate measures to resolve the matter in compliance with regulatory requirements.
ఇది కూడా చదవండి…అమెరికాలో అధికారిక భాషగా ఆంగ్లాన్ని ప్రకటించిన ట్రంప్..
ఇది కూడా చదవండి…ఆరోగ్యరన్ – 2025: స్వస్థ తెలంగాణ కోసం దూసుకెళ్లిన రన్నర్స్
- Paytm acquired LIPL and NIPL in 2017.
- Groupon India was founded by Ankur Warikoo in 2011.
- In 2015, Warikoo and his team acquired the India business of Groupon and made it an independent entity.
Paytm has reiterated its commitment to resolving the matter through legal channels while ensuring that its services remain unaffected.