Our statement on ED Investigation: Merchants under scrutiny are not Paytm entities, seized funds do not belong to the company

Our statement on ED Investigation

This is with respect to the press release issued on 3rd September 2022 by the Directorate of Enforcement (ED) regarding the search operations it carried out at 6 premises in Bengaluru.

We have filed an update with the exchanges, accessible here: – https://www.bseindia.com/xml-data/corpfiling/AttachLive/592dbc30-e4da-488f-b67a-ffcb69965178.pdf

As a part of ongoing investigations on a specific set of merchants, the ED has sought information regarding such merchants to whom we provide payment processing solutions. We wish to clarify that these merchants are independent entities, and none of them are our group entities.

It may be noted that ED has instructed us to freeze certain amounts from the Merchant IDs (MIDs) of a specific set of merchant entities (as mentioned by the ED in their press release). It may be further noted that none of the funds which have been instructed to be frozen belong to Paytm or any of our group companies.

We are, and will continue to, fully cooperate with the authorities, and all the directive actions are being duly complied with.

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