Paytm Slams Unverified Reports of ED Probe
Paytm denies receiving any fresh communication from the Enforcement Directorate (ED) amidst reports of a cryptocurrency scam probe involving Chinese nationals. Shares of the company saw a temporary dip but recovered partially. Paytm insists previous enquiries pertain to independent merchants, not the firm itself.
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- Country:
- India
Paytm has refuted claims that it has received new inquiries from the Enforcement Directorate (ED) amid reports of involvement in a cryptocurrency scam investigation.
The company labeled media reports as 'factually incorrect and misleading,' reiterating that previous probes targeted independent merchants, not Paytm or its subsidiaries.
Despite an 8.4% drop in One97 Communications' share value, it partially recovered. Paytm advises stakeholders to disregard unverified reports and assures prompt disclosure of any significant developments.
(With inputs from agencies.)
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