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Digital payments entity Paytm has denied media reports claiming that the Enforcement Directorate (ED) is probing foreign exchange violations under the Foreign Exchange Management Act (FEMA). Embattled digital payments company Paytm has denied media reports claiming that the Enforcement Directorate (ED) is investigating it in connection with foreign exchange violations under the Foreign Exchange Management Act (FEMA). A Reuters report, quoting two senior officials, claimed that the ED is already probing the company, but there has been no formal communication thus far. In a stock exchange filing, Paytm’s parent company, One97 Communications Limited (OCL), claimed that such reports are "entirely misleading, baseless and malicious". "The company (OCL) filed a specific clarification yesterday, categorically denying any investigation by the Enforcement Directorate on OCL, our associates and our management. We have since seen additional media reports making baseless speculation...