Paytm founder and CEO Vijay Shekhar Sharma poses for an image at a clubhouse of a residential constructing in New Delhi, November 14, 2021. REUTERS/Anushree Fadnavis/File Photograph
MUMBAI, March 13 (Reuters) – Indian police briefly detained Vijay Shekhar Sharma, the founder and CEO of the fintech agency Paytm (PAYT.NS) in New Delhi in February for a minor highway accident, native media stated on Sunday.
A case was registered in opposition to Sharma by the New Delhi police for “rashness and negligent driving” stated Reuters TV associate ANI.
His automobile was concerned in an accident with a senior police official’s automobile, each automobiles had been impounded and the case was below investigation, native information company IANS reported.
Media experiences stated Sharma’s Jaguar Land Rover allegedly rammed right into a senior police official’s automobile. It was not clear who was driving the automobile in the course of the incident.
A senior Delhi police official concerned within the probe stated Sharma was interrogated by the police relating to a minor offence and allowed to depart the police station.
Requested in regards to the incident, a Paytm spokesperson stated a criticism had been filed in reference to an alleged minor motorized vehicle incident. No particular person or property was harmed, the spokesperson stated, including that the media experiences had been “exaggerated” and that required procedures had been accomplished.
The spokesperson didn’t instantly make clear who was driving the automobile.
Paytm, which counts China’s Ant Group and Japan’s SoftBank Group Corp (9984.T) amongst its backers, raised $2.5 billion in India’s greatest preliminary public providing in November, however made a dismal debut on the inventory exchanges and has misplaced over 50% since then.
Reporting by Nupur Anand; Modifying by Rupam Jain and William Mallard
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