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Regulatory Probe

All articles tagged with #regulatory probe

business1 year ago•3 min saved

"Regulatory Crisis Rocks India's Startup Rockstar Paytm, Shares Plummet"

India's federal anti-fraud agency is investigating digital payments firm Paytm for potential violations of foreign exchange laws, leading to a $2.5 billion loss in the company's market value. The Reserve Bank of India (RBI) has instructed Paytm's banking unit to cease operations, and the company is reportedly in talks to sell its wallet business. The regulatory crackdown has raised concerns about the company's future, with the RBI expressing worries about potential money laundering through Paytm's accounts. As a result, other financial institutions like State Bank of India are preparing to support merchants and retailers affected by the uncertainty surrounding Paytm.

via Reuters|

#business #digital-payments #india

business2 years ago•4 min saved

Adani Family's Secret Stock Manipulation Exposed

The Organised Crime and Corruption Reporting Project (OCCRP) has alleged that "opaque" Mauritius funds were used to invest millions of dollars in publicly traded stocks of India's Adani Group, obscuring the involvement of alleged business partners of the Adani family. The report comes after U.S.-based short-seller Hindenburg Research accused the Adani Group of improper business dealings earlier this year. Adani Group has denied the allegations and stated that all its publicly listed entities are in compliance with applicable laws. The regulatory probe into the Adani Group's offshore investments is nearing completion, and appropriate action will be taken based on the investigation's outcome.

via Reuters India|

#adani-group #business #mauritius