New Delhi, March 1 -- Paytm announced on Saturday, March 1, 2025, that it has received a show-cause notice from the crime-fighting agency Enforcement Directorate (ED) for allegedly violating certain Foreign Exchange Management Act (FEMA) rules. The notice relates to violations related to the acquisition of two subsidiaries - Little Internet Private Limited and Nearbuy India Private Limited for the years 2015 to 2019, with respect to certain investment transactions in the deal.

One97 Communications, the operator of the leading fintech major, said in a regulatory filing to the stock exchanges that the alleged breach pertains to the period when the two companies were not its subsidiaries. "This pertains to a period when these companies were...