{"id":6374,"date":"2025-03-03T09:32:49","date_gmt":"2025-03-03T04:02:49","guid":{"rendered":"https:\/\/lakshmishree.com\/news\/?p=6374"},"modified":"2025-03-03T09:32:52","modified_gmt":"2025-03-03T04:02:52","slug":"paytm-shares-under-spotlight-after-ed-issues-fema-violation-notice","status":"publish","type":"post","link":"https:\/\/lakshmishree.com\/news\/paytm-shares-under-spotlight-after-ed-issues-fema-violation-notice\/","title":{"rendered":"Paytm Shares Under Spotlight After ED Issues FEMA Violation Notice"},"content":{"rendered":"\n<p>Shares of One97 Communications, the parent company of Paytm, will be in focus on March 3 after the Enforcement Directorate (ED) issued a show cause notice for alleged violations of the Foreign Exchange Management Act (FEMA).<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>ED\u2019s Notice on FEMA Violations<\/strong><\/h3>\n\n\n\n<p>On February 28, the ED served a notice to One97 Communications and its subsidiaries, Little Internet Private Limited (LIPL) and Nearbuy India Private Limited (NIPL). The notice pertains to alleged violations linked to the acquisition of these subsidiaries between 2015 and 2019.<\/p>\n\n\n\n<p>The ED&#8217;s notice has been sent to:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>One97 Communications<\/strong><\/li>\n\n\n\n<li><strong>LIPL &amp; NIPL (Acquired Subsidiaries)<\/strong><\/li>\n\n\n\n<li><strong>Certain past and current Directors and officers<\/strong> of the company and its subsidiaries<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Paytm\u2019s Response<\/strong><\/h3>\n\n\n\n<p>In a regulatory filing, Paytm clarified that the alleged violations are related to a period before these companies became its subsidiaries. The company stated that it is seeking legal advice to address the issue and evaluate possible solutions.<\/p>\n\n\n\n<p>As per the details shared:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>One97 Communications (OCL) transactions<\/strong> under scrutiny amount to <strong>\u20b9245 crore<\/strong><\/li>\n\n\n\n<li><strong>LIPL transactions<\/strong> in question total around <strong>\u20b9345 crore<\/strong><\/li>\n\n\n\n<li><strong>NIPL transactions<\/strong> listed in the alleged breach stand at <strong>\u20b921 crore<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Paytm emphasized that it follows strict governance and compliance measures in all its business operations. The company assured its users that the issue will not affect Paytm\u2019s services, and all transactions remain fully operational and secure.<\/p>\n\n\n\n<p>Do you have a news tip for Lakshmishree reporters? Please email us at <strong><a>media@lakshmishree.com<\/a><\/strong>.<\/p>\n\n\n\n<p><sub><sup><a href=\"http:\/\/moneycontrol.com\/news\/business\/stocks\/paytm-shares-in-focus-on-show-cause-notice-from-ed-on-fema-violations-12954426.html\" target=\"_blank\" rel=\"noreferrer noopener\">Source: Moneycontrol.<\/a><\/sup><\/sub><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shares of One97 Communications, the parent company of Paytm, will be in focus on March 3 after the Enforcement Directorate (ED) issued a show cause notice for alleged violations of the Foreign Exchange Management Act (FEMA). ED\u2019s Notice on FEMA Violations On February 28, the ED served a notice to One97 Communications and its subsidiaries, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6376,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[50],"tags":[1042],"class_list":["post-6374","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-indian-market","tag-paytm-ed-issues"],"_links":{"self":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/6374","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/comments?post=6374"}],"version-history":[{"count":1,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/6374\/revisions"}],"predecessor-version":[{"id":6377,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/6374\/revisions\/6377"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media\/6376"}],"wp:attachment":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media?parent=6374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/categories?post=6374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/tags?post=6374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}