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Paytm Boss Vijay Shekhar Sharma arrested, later released on bail last month, Here's why?

Nothing is doing well for Paytm at this time; Paytm boss Vijay Shekhar Sharma arrested, later released on bail in February; Here's why?

Paytm founder and CEO Vijay Shekhar Sharma was arrested and later granted bail by the Delhi Police last month in a case of alleged rash or negligent driving, daily Indian Express reported.

According to media reports, the Paytm boss was driving a Jaguar land Rover (JLR) that hit the car of the district commissioner of police of South Delhi on February 22.

Sharma allegedly rammed his car into the vehicle of Benita Mary Jaiker, DCP, Delhi (South district) on February 22, as per FIR details, cited by Indian Express.

Sharma was arrested under IPC Section 279 (rash or negligent driving). Constable Deepak Kumar filed an FIR who was driving DCP's car then.

Meanwhile, the Reserve Bank of India (RBI) has asked Sharma to stop opening new accounts amid "material supervisory concerns" observed in the bank.

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