NEW DELHI: Shares of Paytm owner One97 Communications fell 5 per cent on Thursday after the Enforcement Directorate questioned its senior executives as part of preliminary examinations before a formal probe under foreign exchange rules.
According to sources, Enforcement Directorate (ED) is conducting preliminary examination of documents before it decides to launch a formal investigation into the RBI-flagged alleged irregularities at the fintech company under the Foreign Exchange Management Act (FEMA).
They said that ED officials have questioned senior Paytm executives and also taken submission of documents from them.
Extending its losses for the third consecutive session, Paytm shares tumbled 5 per cent to settle at Rs 325.05 apiece - lower circuit limit on the NSE. On the BSE, scrip of crisis-hit One97 Communications declined 4.99 per cent to close at Rs 325.25 per piece. The stock also hit its fresh 52-week low on both BSE and NSE. In terms of volume trade, 1.03 crore equity shares were traded on the NSE, while 11.05 lakh shares were traded on the BSE during the day.