India’s Paytm obtains notification from economic criminal activity battling firm, sees no organization effect

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(Reuters) -India’s Paytm got a program reason notification from India’s economic criminal activity battling firm on Saturday for presumably breaching the nation’s Foreign Exchange Management Act.

The notification connects to infractions associating with the procurement of 2 subsidiaries – Little Internet Private Limited and Nearbuy India Private Limited for the years 2015 to 2019, Paytm stated in a declaration.

This refer to a duration when these business were not subsidiaries of Paytm, it stated.

The notification has no influence on its solutions to its customers and vendors, the firm included.

(Reporting by Harshita Meenaktshi and Aditi Shah; editing and enhancing by David Evans)