Archive · 19 Dec 2025
ED Terminates FEMA Case Against Paytm Subsidiary Nearbuy
The Enforcement Directorate (ED) in India has stopped a case against Nearbuy, a company owned by Paytm.
Nearbuy was accused of not reporting some money transactions on time.
To settle the issue, Nearbuy paid a fine of ₹4.28 crore.
The Reserve Bank of India (RBI) allowed this settlement, which means Nearbuy doesn't have to go to court.
This is good news for Paytm, which has been facing a lot of checks from regulators lately.
Nearbuy is a platform that offers deals for dining, entertainment, and services.
Paytm bought Nearbuy in 2017 to expand its business.
The ED terminated FEMA violation proceedings against Nearbuy India Private Limited on 19th December, 2025.
The resolution followed an RBI compounding order after Nearbuy paid a penalty of ₹4.28 crore.
The case involved delays in reporting foreign inward remittances and share issuances.
The ED had issued a show-cause notice in March 2025 alleging violations totaling ₹611 crore across Paytm's subsidiaries.
Nearbuy's violations included delays in reporting inward remittances of ₹35.82 crore and late filing of share issuance forms worth ₹73.01 crore.
- Who
- Nearbuy India Private Limited, a subsidiary of Paytm
- What
- Termination of FEMA violation proceedings
- When
- 19th December, 2025
- Where
- India
- Why
- Following a compounding order by the RBI and payment of a penalty
- Company Involved
- Nearbuy India Private Limited
- Parent Company
- Paytm (One97 Communications)
- Penalty Paid
- ₹4.28 crore
- Date of Termination
- 19th December, 2025
- Date of RBI Order
- 17th October, 2025
- Alleged Violations
- Delays in reporting foreign inward remittances and share issuances
- Total Alleged Violations
- ₹611 crore across multiple subsidiaries
- Nearbuy's Violations
- ₹35.82 crore in inward remittances and ₹73.01 crore in share issuances