Paytm issued a statement saying that no probe has been launched against the firm or its founder Vijay Shekhar Sharma amid the RBI crackdown.

Fintech company Paytm on Monday dismissed the reports of the Enforcement Directorate investigating the firm or its founder for money laundering or FEMA violations as "misleading, baseless and malicious". Paytm said that the financial crime-fighting agency has not launched any probe against the parent brand One97 Communications or founder and CEO Vijay Shekhar Sharma, amid allegations of money laundering. Discover the thrill of cricket like never before, exclusively on HT. Explore now! This comes after the Reserve Bank of India issued a deadline to Paytm Payments Bank for halting its transactions after February 29. Paytm said in a statement, "We would like to reiterate that the company and its associate Paytm Payments Bank Limited are not the subject matter of any such investigation. Such media reports are entirely misleading, baseless, and malicious, which harm the interests of all our stakeholders." In its statement, Paytm clarified that the ED has not launched any investigation against One97 Communications, its associates or top management. It also refuted claims of all alleged FEMA violations.