{"id":250607,"date":"2025-03-03T09:39:39","date_gmt":"2025-03-03T09:39:39","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/03\/03\/paytm-issues-clarification-on-ed-notice-over-alleged-fema-violations-the-times-of-india\/"},"modified":"2025-03-03T09:39:39","modified_gmt":"2025-03-03T09:39:39","slug":"paytm-issues-clarification-on-ed-notice-over-alleged-fema-violations-the-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/03\/03\/paytm-issues-clarification-on-ed-notice-over-alleged-fema-violations-the-times-of-india\/","title":{"rendered":"Paytm issues clarification on ED notice over alleged FEMA violations &#8211; The Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img decoding=\"async\" src=\"https:\/\/i2.wp.com\/static.toiimg.com\/thumb\/msid-118680994,imgsize-44002,width-400,resizemode-4\/118680994.jpg?ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Paytm issues clarification on ED notice over alleged FEMA violations &#8211; The Times of India\" title=\"Paytm issues clarification on ED notice over alleged FEMA violations &#8211; The Times of India\" \/><\/div><p> <br \/>\n<\/p>\n<div>\n<div class=\"MwN2O\">\n<div class=\"vdo_embedd\">\n<div class=\"T22zO\">\n<section class=\"D3Wk1  clearfix id-r-component leadmedia undefined undefined  VtlfQ\" style=\"top:0px\">\n<div class=\"D3Wk1\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">\n<div class=\"zPaFh\">\n<div class=\"wJnIp\"><\/div>\n<\/div>\n<\/div>\n<div class=\"cj2hz img_cptn\"><span title=\"Paytm clarified that the alleged violations occurred when these companies were not its subsidiaries.\">Paytm clarified that the alleged violations occurred when these companies were not its subsidiaries.<\/span><\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\n<p><a href=\"https:\/\/timesofindia.indiatimes.com\/topic\/paytm\" styleobj=\"[object Object]\" class=\"\" commonstate=\"[object Object]\" frmappuse=\"1\">Paytm<\/a> alleged <!-- -->FEMA violations<!-- -->: Following reports of ED (<a href=\"https:\/\/timesofindia.indiatimes.com\/topic\/enforcement-directorate\" styleobj=\"[object Object]\" class=\"\" commonstate=\"[object Object]\" frmappuse=\"1\">Enforcement Directorate<\/a>) sending a notice to Paytm, shares of <!-- -->One97 Communications<!-- --> plunged around 4% before recovering.<br \/>A regulatory filing on Saturday revealed that Paytm received notice from the Enforcement Directorate (ED) regarding alleged FEMA rule violations by the company and its subsidiaries &#8211; <!-- -->Little Internet<!-- --> and <!-- -->Nearbuy<!-- --> &#8211; concerning specific investment transactions.<br \/>Paytm subsequently clarified that the alleged violations occurred when these companies were not its subsidiaries.<br \/>&#8220;We hereby inform you that a show cause notice&#8230;has been received by the company on February 28, 2025&#8230;from the Directorate of Enforcement.<br \/>&#8220;This is in relation to alleged contraventions for the years 2015 to 2019 of certain provisions of the &#8216;FEMA&#8217; by the company, in relation to its acquisition of two subsidiaries namely Little Internet Pvt Ltd (LIPL) and Nearbuy India Pvt Ltd (NIPL), erstwhile Groupon, along with certain directors and officers,&#8221; the company stated in its regulatory filing.<br \/>One97 Communications received the FEMA notice on February 28, indicating alleged violations involving transactions totalling over Rs 611 crore, though without specifying the financial impact.<br \/>The company detailed that the alleged violations involved OCL transactions of over Rs 245 crore, LIPL&#8217;s approximately Rs 345 crore, and NIPL&#8217;s about Rs 21 crore.<br \/>&#8220;The alleged contraventions relate to certain investment transactions relating to OCL, LIPL and NIPL,&#8221; it elaborated.<br \/>&#8220;Certain alleged contraventions attributable to two acquired companies &#8211; Little Internet Pvt Ltd and NearBuy India Pvt Ltd &#8211; pertain to a period when these were not subsidiaries of the Company,&#8221; the filing stated.<br \/>Paytm assured that they are addressing the situation legally, emphasising that their services remain unaffected and fully operational for consumers and merchants.<br \/>&#8220;To resolve the matter in accordance with applicable laws and regulatory processes, the Company is seeking necessary legal advice and evaluating appropriate remedies,&#8221; the filing mentioned.<br \/>Paytm acquired these two companies in 2017.<br \/>Ankur Warikoo established Groupon India as its founding CEO in 2011. In 2015, Warikoo and the core management team purchased Groupon&#8217;s India operations, establishing it as an independent entity.<\/div>\n<p><script>\nvar _mfq = window._mfq || [];\n_mfq.push([\"setVariable\", \"toi_titan\", window.location.href]);\n!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', '593671331875494');\n      fbq('track', 'PageView');\n    };\n    function loadGtagEvents(isGoogleCampaignActive) {\n      if (!isGoogleCampaignActive) {\n        return;\n      }\n      var id = document.getElementById('toi-plus-google-campaign');\n      if (id) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        t.id = 'toi-plus-google-campaign';\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/www.googletagmanager.com\/gtag\/js?id=AW-877820074', n, t, s);\n    };\n    function loadSurvicateJs(allowedSurvicateSections = []){\n      const section =  window.location.pathname.split('\/')[1]\n      const isHomePageAllowed = window.location.pathname === '\/' && allowedSurvicateSections.includes('homepage')\n      if(allowedSurvicateSections.includes(section) || isHomePageAllowed){\n        (function(w) {\n         function setAttributes() {\n                    var prime_user_status = window.isPrime ? 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Paytm alleged FEMA violations: Following reports of ED (Enforcement Directorate) sending a notice to Paytm, shares of One97 Communications plunged around 4% before recovering.A regulatory filing on Saturday revealed that Paytm received notice from the Enforcement Directorate (ED) regarding alleged FEMA [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":250608,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/static.toiimg.com\/thumb\/msid-118680994,imgsize-44002,width-400,resizemode-4\/118680994.jpg","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[494,289,5023,1837,16081,193420,273,1678,193419,194108,7044,5493,665,272,18057],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/250607"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=250607"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/250607\/revisions"}],"predecessor-version":[{"id":250609,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/250607\/revisions\/250609"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/250608"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=250607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=250607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=250607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}