Paytm under ED scanner for alleged FEMA violations, show cause notice issued
India’s Paytm has received a show cause notice from the country’s financial crime-fighting agency Enforcement Directorate (ED) over alleged violations of the Foreign Exchange Management Act (FEMA) between 2015 and 2019, the company said in a statement.
The notice pertains to irregularities in the acquisition of two subsidiaries, Little Internet Private Limited and Nearbuy India Private Limited, during this period, according to the statement.
