Paytm shares tumble 4% after ED issues show cause notice over alleged FEMA violations

Shares of One 97 Communications (OCL), the parent company of Paytm, tumbled by 4.4% to their day’s low of Rs 685 on the BSE on Monday after the Enforcement Directorate (ED) issued a show cause notice over alleged violations of foreign exchange rules amounting to Rs 611 crore involving the company and two of its subsidiaries.