India, Feb. 6 -- On Monday, Paytm, a fintech company, denied claims that the Enforcement Directorate was investigating the company or its founder for money laundering or FEMA violations as "misleading, baseless, and malicious." The company stated that the financial crime-fighting agency has not begun an investigation into the parent brand One97 Communications or its founder and CEO, Vijay Shekhar Sharma, despite claims of money laundering. This comes after the Reserve Bank of India announced a deadline for Paytm Payments Bank to suspend transactions after 29 February.

The Fintech giant issued a statement stating, "We would like to reiterate that the company and its associate Paytm Payments Bank Limited are not the subject of any such inv...