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Police given three weeks to conclude investigation into India’s Paytm
- Monday | 23rd August, 2021
NEW DELHI (Reuters) – An Indian court on Monday has given police three weeks to conclude an investigation into claims from a former Paytm director who said he co-founded the digital payment platform but did not receive shares owed. Paytm has said the claim amounts to harassment and cited it under “criminal proceedings” in the prospectus for its proposed $2.2 billion initial public offering (IPO). Saxena, a director from 2000 to 2004, has written to the market regulator urging it to stop Paytm from proceeding with the IPO. On Monday, a Delhi district court judge requested the final report of the police’s investigation within three weeks. The police have submitted a status report to the court but are yet to conclude the investigation, senior lawyer Anupam Lal Das, representing Saxena, told Reuters after the hearing.
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