Paytm Spokesperson Says ED Not Investigating New Circumstances, Searches Associated to Outdated Probes: Report

Paytm has reportedly denied something new being investigated within the current search by the Enforcement Directorate (ED) on the firm’s premises on Wednesday. As per a report, a Paytm spokesperson clarified that the federal company has solely sought info linked to the continuing probes on sure retailers in current search operation. It was reported earlier within the day that ED has performed searches on sure premises of One 97 Communications’s Paytm and fee options supplier PayU. The federal company additionally investigated the businesses earlier this month.

In response to an ANI report, the ED launched a search operation at Paytm premises on Wednesday. Nonetheless, in keeping with a Paytm spokesperson, the current ED searches doesn’t contain any new info being investigated. The federal company is reportedly in search of further info on the continuing probes on sure retailers, as per the spokesperson.

The spokesperson from Paytm additionally talked about that the corporate has shared no matter info was sought by the Directorate of Enforcement (ED), in keeping with the report. “As we now have talked about earlier than, ED continues to hunt details about sure retailers from varied fee service suppliers, we now have shared the required info,” talked about the report citing the spokesperson.

Paytm and PayU earlier confronted ED queries at six premises in Bengaluru on September 3. The corporate additionally launched a statement on the search operation, stating, “As part of ongoing investigations on a selected set of retailers, the ED has sought info relating to such retailers to whom we offer fee processing options. It’s hereby clarified that these retailers are unbiased entities, and none of them are our group entities.”

On the time of those searches, the ED additionally instructed Paytm to freeze sure quantities from the Service provider IDs of a selected set of service provider. Paytm clarified that the frozen funds don’t belong to the corporate or any of its subsidiaries.

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