One97 Comm denies receiving any ED notice over alleged role in crypto scam
This story was originally published at 12:48 IST on 24 January 2025
Register to read our real-time news.Informist, Friday, Jan. 24, 2025
--One97 Comm: Did not receive query from ED regarding any crypto scam
--CONTEXT: Reports said One97 Comm's Paytm facing ED probe in crypto scam
--One97 Comm:Media reports pertain to old enquiries over 3rd-party merchants
--One97 Comm: Merchants under ED probe independent, not part of co's group
MUMBAI – Paytm parent One97 Communications Ltd. Friday denied receiving any notice, communication, or query from the Enforcement Directorate, as reported by the media, for its alleged involvement in a cryptocurrency scam. "The information published is factually incorrect and misleading, and we had not received any query from the media prior to the publishing of this news article," the company said in an exchange filing.
According to media reports on Friday, Paytm, along with other payment gateways, is being investigated by the Enforcement Directorate in connection with some Chinese nationals running a cryptocurrency scam in the country.
Shares of One97 Communications fell nearly 9% earlier in the day, but recovered later. At 1225 IST, the company's shares were down 3.5% at INR 819 on the National Stock Exchange.
The company said the news reports are related to old enquiries regarding third-party merchants. In 2022, the Enforcement Directorate had conducted search operations involving certain merchants for whom the company provided payment processing solutions.
The company clarified that the probe is not on it or any of its subsidiaries, but on third-party merchants. One97 Communications said that these merchants are independent entities and are not part of the group. It confirmed that the company had fully cooperated with the authorities and had complied with all their directives. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Ashna Mariam George
Edited by Tanima Banerjee
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2025. All rights reserved.
To read more please subscribe
Share this Story:
