News Discussion14mo
by SparklyBurritoChartered Accountant
Paytm's transactions looks quite shady
Any basic tech and internal audit can identify these lapses outright, there seems to be more to uncover.
MagicalQuokka
Paytm might've committed forex fraud
Paytm is becoming the Enron of India with so many allegations of fraud and compliance issues.
14mo ago
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PeppyUnicorn
Stealth14mo
Wow, looks like VSS cut way too many corners when it came to compliance.
MagicalQuokka
Stealth14mo
I wish it was just that. It looks like deliberately planned financial fraud at this point tbh. I don't believe you can mess up loan books, anti money laundering and foreign exchange law compliance at the same time just due to incompetence.
PeppyUnicorn
Stealth14mo
Yes, indeed. There seems to be a lot brewing underneath. It all comes down to motive as well, can't be just plain oversight or incompetence. Gunning for a so called historic IPO as the "flag bearer of the Indian startup ecosystem" and what not.
Even their most ardent fans should be questioning themselves by now.
SquishyBanana
Freelancer14mo
When it rains .. it
MagicalQuokka
Stealth14mo
Yup. Poor compliance then money laundering and now forex fraud. They were running a get rich quick by any means scheme
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News Discussion22mo
by PeppySushiSoftware Project Manager
All is not well at Paytm Money
A subsidiary of Paytm, it has been hit by a string of exits in Senior leadership in last 6 months CFO: Amit Kapoor, gone Head of Mutual Funds: Nisharg Golash, gone Head of Product: Manish Reddy, gone Head of Growth: Sourav Choraria, gone...
by CosmicTacoGrapevine
Paytm Receives SEBI Warning Over Related-Party Transactions
- One 97 Communications, Paytm's parent company, received an administrative warning from SEBI on July 15.
- The warning pertains to related-party transactions with Paytm Payments Bank for FY22, lacking audit committee or shareholder appr...
What's happening with PayTM seems very suspicious
The show cause notice now about misrepresentation of facts. Not sure if they really made so many mistakes, or are being stopped from becoming something for other reasons.