New Delhi [India], February 4 : In a filing with the BSE and the NSE, One97 Communications Ltd (OCL)'s on Sunday responded to what it termed were recent speculative media reports.
In its release, the company said, "To address the recent misinformation, factual inaccuracies, and speculation, One97 Communications Limited (OCL / Paytm / Company) would like to set out the company's position and directly address rumors in the recent misleading media reports about the company and its associate, Paytm Payments Bank Limited (PPBL / Bank). This filing is done in the interest of transparency and protecting our reputation, customers, shareholders, and stakeholders from being influenced by unwarranted and speculative stories. We will continue to post such clarifications as required. "
The company, in its release, further stated, "Categorically deny any investigation by the Enforcement Directorate on OCL, our associates, and/or its Founder and CEO for anti-money laundering activities Neither the company nor its founder and CEO are being investigated by the Enforcement Directorate regarding, inter alia, money laundering. In the past, certain merchants/users on our platforms have been subject to inquiries, and on those occasions, we have always cooperated with the authorities. During any such investigations by the authorities on any set of merchants/users in the past, we have cooperated with them on these investigations. This has been previously disclosed to the stock exchanges."
The release added, "We would like to set the record straight and deny any involvement in anti-money laundering activities. We have and continue to abide by Indian laws and take regulatory orders with utmost seriousness. There are other stories in various media, including social media, which are spreading speculation and misinformation on the reasons for RBI action on Paytm Payments Bank. The recent direction from RBI is a part of the ongoing supervisory engagement and compliance process. For this action, we refer our stakeholders to the official press release of RBI dated January 31, 2024 and not rely on unofficial sources."
The release further stated, "We are exploring all options to ensure that our stakeholders are protected from unwarranted and speculative stories."
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