Shares of One97 Communications, which owns the Paytm brand, fell 8.4 per cent during the day to Rs 773.90 but recovered partially and closed at 5 per cent lower on BSE.
“…we confirm that we have not received any such new notice, communication, or query from the Enforcement Directorate regarding the matter mentioned in the media articles,” Paytm said in a clarification to BSE terming the information published as “factually incorrect and misleading”.
Drawing attention to its previous letter dated September 4, 2022, regarding the Directorate of Enforcement’s (ED) search operations involving certain merchants for whom it provided payment processing solutions, Paytm said that the instances currently being reported by the media pertained to similar old enquiries regarding third-party merchants.
“We would like to clarify that these merchants are independent entities and are not part of our group. We confirm that we had fully cooperated with the authorities and had complied with all their directives,” Patym said in a BSE filing.
Paytm further clarified that contrary to media reports there has been no probe on the company or its subsidiaries, and the ED’s probe is on third-party merchants.
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“We urge investors and stakeholders not to rely on unverified media reports and assure you that should any material developments occur, we will promptly disclose the same in accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,” it said.
