March 3, 2025 7:00 PM

Rs 611 Cr FEMA Violations: ED issues notice to Paytm’s parent firm, managing director

The Enforcement Directorate (ED) on Monday issued a show-cause notice to One97 Communications Ltd, the parent company of Paytm, its Managing Director Vijay Shekhar Sharma, and others for alleged violations of the Foreign Exchange Management Act, 1999 (FEMA) amounting to Rs 611 crore. The notice was issued by the Special Director of Enforcement (Adjudication), New Delhi, to One97 Communications Ltd (OCL), Paytm’s flagship company, its Managing Director, and its subsidiaries—Little Internet P...