One97 Communications Limited has reaffirmed that neither the company nor its associate, Paytm Payments Bank Limited, is under investigation for violating foreign exchange regulations. The company emphasized its commitment to transparency and protecting its reputation, customers, shareholders, and stakeholders from unfounded speculation.
In a regulatory filing, the company stated, "We will continue to issue such clarifications as necessary."
The filing mentioned a previous clarification wherein the company explicitly denied any investigation by the Enforcement Directorate on One97 Communications Limited, its associates, or management. Despite this, the company noted additional media reports spreading baseless speculation regarding investigations into the company or its associate, Paytm Payments Bank Limited, for alleged violations of foreign exchange regulations.
The company reiterated, "We would like to emphasize that neither the company nor its associate, Paytm Payments Bank Limited, is the subject of any such investigation. These media reports are entirely misleading, baseless, and malicious, and they harm the interests of all our stakeholders."
(With Agency Inputs)