Paytm to resolve FEMA allegations linked to Little Internet & Nearbuy; transactions largely before acquisition

Mumbai (Maharashtra) [India], March 1 (ANI): Paytm, a major player in the digital payments and financial services ecosystem, has said it will seek resolution of alleged FEMA contraventions related to two acquired subsidiaries — Little Internet Private Limited (LIPL) and Nearbuy India Private Limited (NIPL).

The company in an exchange filing clarified that certain alleged contraventions are attributable to these subsidiaries for transactions during a period before they became part of Paytm.