Paytm denies ED probe for money laundering in BSE and NSE filings. india business news
New Delhi: In a filing to BSE and NSE, One97 Communications Ltd (OCL) on Sunday responded that it said it was recent. speculative media reports,
“To address recent misinformation, factual inaccuracies and speculation, One97 Communications Limited (OCL/ Paytm /Company) wishes to clarify the Company’s position and directly address the rumors in the recent misleading media reports regarding the Company and its affiliate, Paytm Payments Bank Limited (PPBL/Bank). This filing is made in the interest of transparency and to protect our reputation, customers, shareholders and stakeholders from being affected by unfair and speculative stories. We will continue to post such clarifications as needed. ,
The company further said in its release, “I categorically deny any kind of investigation.” Enforcement Directorate OCL, our associates and/or its Founder and CEO are, inter alia, under investigation by the Enforcement Directorate for anti-money laundering activities. Money laundering, 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 wish to set the record straight and deny any involvement in anti-money laundering activities. We comply with Indian laws and take regulatory orders extremely seriously,” the release said. There are also other stories in various media, including social media, which are spreading speculation and misinformation on the reasons for the RBI action on Paytm Payments Bank. The recent directive by RBI is a part of the ongoing supervisory engagement and compliance process. For action, we refer our stakeholders to the official press release of RBI dated January 31, 2024 and do not rely on unofficial sources.”
The release further said, “We are exploring all options to ensure that our stakeholders are protected from inappropriate and speculative stories.”
“To address recent misinformation, factual inaccuracies and speculation, One97 Communications Limited (OCL/ Paytm /Company) wishes to clarify the Company’s position and directly address the rumors in the recent misleading media reports regarding the Company and its affiliate, Paytm Payments Bank Limited (PPBL/Bank). This filing is made in the interest of transparency and to protect our reputation, customers, shareholders and stakeholders from being affected by unfair and speculative stories. We will continue to post such clarifications as needed. ,
The company further said in its release, “I categorically deny any kind of investigation.” Enforcement Directorate OCL, our associates and/or its Founder and CEO are, inter alia, under investigation by the Enforcement Directorate for anti-money laundering activities. Money laundering, 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 wish to set the record straight and deny any involvement in anti-money laundering activities. We comply with Indian laws and take regulatory orders extremely seriously,” the release said. There are also other stories in various media, including social media, which are spreading speculation and misinformation on the reasons for the RBI action on Paytm Payments Bank. The recent directive by RBI is a part of the ongoing supervisory engagement and compliance process. For action, we refer our stakeholders to the official press release of RBI dated January 31, 2024 and do not rely on unofficial sources.”
The release further said, “We are exploring all options to ensure that our stakeholders are protected from inappropriate and speculative stories.”
