Paytm Denies Connection With Merchant Under ED Scanner: One97 Communications Limited, the operator of the digital payment platform Paytm, has denied any connection with the merchant who is under the Enforcement Directorate (ED) investigation in the Chinese loan app case. are in. The company said that none of the funds which have been frozen by the ED are related to the group or any group company.
The ED had recently said that in connection with its probe into alleged irregularities in app-based quick loan allocation by Chinese nationals ‘control’, online payment platforms RazorPay, Paytm and CashFree have been raided at Bengaluru-based premises. Raid has been done. Paytm said- ED had directed to withhold certain amounts from merchant IDs of some merchant bodies. We would like to state that none of these funds, which have been directed to be withheld, do not belong to Paytm or any of our group companies.
The Enforcement Directorate said that Rs 17 crore deposited in merchant IDs and bank accounts of these companies controlled by Chinese individuals have been seized in the raids. The agency alleged that these companies are using forged documents of Indian citizens to make them directors in a fake manner while these companies are controlled and operated by Chinese people. He said that these companies under investigation were raising money from the crime by using merchant IT or accounts linked to payment service companies and banks and the addresses given by these companies were also fake. (Language)