Paytm shares hit lower circuit of 10% on BSE
New Delhi: Shares of Paytm were down 10 per cent on the lower circuit on BSE. Paytm shares were trading 10 per cent down at Rs 438.35. One97 Communications Limited (OCL/Paytm/Company) clarified the Company’s position and directly addressed the rumors in recent misleading media reports regarding the Company and its affiliate, Paytm Payments Bank Limited (PPBL/Bank). The company categorically denied any investigation by the Enforcement Directorate on OCL, or associates and/or its founder and CEO for anti-money laundering activities. “Neither the company nor its founder and CEO are being investigated by the Enforcement Directorate in connection with, inter alia, money laundering.
Paytm tries to reassure its users
In the past, some traders/users on our platform have been subject to questioning and on those occasions, we have always cooperated with the authorities. During any such investigations by the authorities in the past on any group of traders/users, we have cooperated with them in these investigations. This has already been disclosed to the stock exchanges. We would like to set the record straight and deny any involvement in anti-money laundering activities. “We comply with Indian laws and take regulatory orders very seriously,” the company said. Edge. The recent directive from RBI is a part of the ongoing supervisory commitment and compliance process. For this action, we refer our stakeholders to the official RBI press release dated January 31, 2024 and do not rely on unofficial sources. “We are exploring all options to ensure that our stakeholders are protected from inappropriate and speculative stories,” the company said.
