Car ramming episode involving Vijay Shekhar Sharma a 'minor' incident: Paytm

Payments and financial services company Paytm on Sunday said that the motor vehicle incident which landed its founder, Vijay Shekhar Sharma, with a first information report (FIR) was 'minor', and that media reports claiming his arrest are 'exaggerated'.

Sharma was booked under IPC Section 279, with relation to a rash or negligent driving case.

"A complaint was filed in connection with an alleged minor motor vehicle incident. There was no harm caused to any person or property in the said incident. Media reports claiming the nature of the arrest are exaggerated, as even the complaint against the vehicle was for a minor offense under a bailable provision of law and requisite legal formalities were completed on the same day," said a Paytm spokesperson in reply to ET's queries on the matter.


According to an article in The Indian Express, the FIR said that a Jaguar Land Rover, allegedly being driven by him, had hit the vehicle of South Delhi's deputy commissioner of police (DCP), Benita Mary Jaiker, outside The Mother's International School on Aurobindo Marg, New Delhi. The complaint for the incident was filed by constable Dipak Kumar, posted with Jaiker. The incident took place on February 22.

Post the incident, the police had traced down the car with the help of the transport department, linking it to Sharma, a resident of the Greater Kailash-II area in New Delhi, the report added.

This continues to be another big blow to the New Delhi-based founder, as the Reserve Bank of India (RBI) on March 11 barred Paytm Payments Bank (PPB) from adding new customers due to likely gaps in its technology systems, in which Sharma owns a majority stake.