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Paytm's parent company receives notice over alleged foreign exchange violations in past acquisitions.
Paytm's parent company, One97 Communications, received a notice from India's Enforcement Directorate over alleged Foreign Exchange Management Act (FEMA) violations related to the acquisitions of two subsidiaries, Little Internet and Nearbuy, between 2015 and 2019.
Paytm says the violations occurred before the companies became its subsidiaries and notes that its services remain unaffected.
The company is seeking legal advice to address the notice.
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La empresa matriz de Paytm recibe notificación sobre presuntas violaciones de divisas en adquisiciones anteriores.