Paytm receives show cause notice for alleged FEMA violations
Paytm has been issued a show cause notice by the Enforcement Directorate (ED) for alleged violations of the Foreign Exchange Management Act (FEMA), the company revealed on Saturday.
The notice pertains to irregularities in the acquisition of two subsidiaries—Little Internet Private Limited and Nearbuy India Private Limited—between 2015 and 2019, according to Paytm’s statement.
