ED not investigating anything new, searches linked to ongoing probe, clarifies Paytm

New Delhi [India]: The Enforcement Directorate (ED) is not exploring anything new and the investigation authorities have actually sought additional info on the recurring probes on certain vendors, Paytm claimed on Wednesday while reacting to the search operation carried out by the enforcement company.
Reacting to the ED search procedure, a Paytm speaker stated the firm has actually shared added details with the Directorate of Enforcement (ED) as the firm continues to inquire concerning particular merchants from numerous repayment suppliers in connection with its recurring investigation. This is not a brand-new examination however belongs of the continuous examination on specific vendors, who are independent entities as well as unrelated to Paytm, the agent claimed.
” As we have stated in the past, ED continues to seek information concerning certain merchants from different payment provider, we have actually shared the needed details,” the representative added.
The firm claimed the ED inquiries relate to the same examination, for which it had actually notified the stock market on September 4, 2022.
In the earlier stock market filing, the business had actually claimed: “As a part of ongoing investigations on a details set of vendors, the ED has inquired relating to such sellers to whom we give settlement processing remedies. It is thus cleared up that these sellers are independent entities, as well as none of them are our team entities. We are as well as will certainly continue to, totally cooperate with the authorities, and all the instruction activities are being duly adhered to.”
In early September, the ED had earlier advised different settlement provider to freeze certain quantities from the Vendor IDs (MIDs) of a details collection of seller entities. Paytm had after that said that none of the funds which were icy come from the business or any of its subsidiaries.

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