Paytm denies connection with Chinese merchants after ED raid

  • One 97 Communication Ltd, the parent entity of Paytm, told the stock exchanges that none of the funds that were asked to be frozen by the Directorate of Enforcement (ED) belonged to Paytm.
  • The statement came after the ED searched offices belonging to online payment gateways such as Razorpay, and Paytm in connection with a probe into the Chinese micro-loan app scandal.