Paytm has reportedly denied any fresh probe into the recent searches conducted by the Enforcement Directorate (ED) at the company’s premises on Wednesday. According to a report, Paytm spokesperson clarified that the federal agency has recently sought information related to the ongoing investigation on some merchants in the search operation. It was reported earlier in the day that the ED has conducted searches at certain premises of One97 Communications’ Paytm and payment solutions provider PayU. The federal agency also investigated the companies earlier this month.
According to the report of ANI, Ed launched a search operation in Paytm campus on Wednesday. However, according to Paytm spokesperson, the recent ED searches do not include any new information which is being probed. According to the spokesperson, the federal agency is reportedly seeking additional information about the ongoing investigations on certain traders.
Paytm spokesperson also mentioned that as per the report, the company has shared whatever information was sought by the Enforcement Directorate (ED). “As we have mentioned earlier, ED is seeking information about certain merchants from various payment service providers, we have shared the necessary information,” the report said, quoting the spokesperson.
Paytm and payu Earlier on September 3, questions from the ED were faced at six premises in Bengaluru. The company a. also issued Statement On the search operation, “As a part of the ongoing investigation on a specific group of merchants, the ED has sought information about such merchants to whom we provide payment processing solutions. It is hereby clarified that these merchants are independent entities, and none of these are our group units.”
At the time of these searches, the ED had also directed Paytm to freeze some amount from the merchant ID of a specific group of merchants. Paytm clarified that the frozen funds do not belong to the company or any of its subsidiaries.