The February 27th notice is associated with allegations of violations of the FEMA’s specific provisions of the Foreign Exchange Management Act (FEMA), which was disclosed with BSE on Saturday. The company was notified on Friday evening.
According to Paytm, ED confirmed the ratification of 245 rupees in OCL, 345 rupees on Little Internet, and 20.9 rupees near India. Violation of allegations is related to the company’s specific investment transaction.
OCL is looking for legal advice and said, “We are taking appropriate measures to solve the problem according to the legal and regulatory procedures.
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The NOIDA headquarters said that the subsidiary’s compliance with the regulations was that there was almost no Hyper Local Deals platform in 2017 from the time when Paytm.paytm was not acquired. Tiger Global Management and Elevation Capital has funded Little Internet. It raised about $ 50 million in stock funds. The nearby BUY jointly provided by Ankur Warikoo was supported by Peak XV Partners (Sequoia India), raising about $ 22 million in stock funding, which was a certain regulation with the securities and exchange committees of 45 Rupee RS 45 LAKH within a few weeks after the company. It occurs in relation to violations.
The FINTECH platform saw that Paytm Payment Bank, an employee faced with regulatory measures by RBI (Reserve Bank of India) early last year, faced regulatory measures.
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Paytm is a target price
According to Trendlyne data, the average target price of stocks is RS 871, which is 22%in the current market price. The 17 analysts’ consensus on stocks is’ hold ‘.
Paytm shares performance
Friday, Paytm stocks closed at RS 716.3, down 1.3% from BSE. Stocks decreased 27% year -on -year, but increased 76% over the past year. The company’s market cap is 45,676 rupees.
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