Paytm CEO arrested for rash driving, released on bail

New Delhi, March 13:  Paytm CEO Vijay Shekhar Sharma was arrested by the Delhi Police for allegedly ramming into a senior police official's car in February and later was released on bail, a senior official confirmed the incident on Sunday.

Delhi Police Spokesperson Suman Nalwa told IANS that the incident took place on February 22 in south Delhi's Malviya Nagar area.

"The accused rammed the car of south Delhi Deputy Commissioner of Police (DCP), Benita Mary Jaiker. However, the DCP was not present inside the car at the time of the incident," the official said.

Meanwhile, a Paytm spokesperson, responding to the media reports, said that 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," the spokesperson added.

Sharma, 43, is the founder and Chief Executive Officer (CEO) of financial technology company Paytm. According to Forbes, he was ranked as the 62nd richest person in India in 2020.

According to the police official, the accident happened outside Mother International School, Sri Aurobindo Marg on February 22 when DCP's driver Constable Dipak Kumar had taken out the car for refueling. None was injured in the accident and DCP's driver immediately noted down the number of the alleged Land Rover that hit his car and informed DCP Jaiker about the incident, who asked him to file a complaint.

The accused driver of the Land Rover had fled the spot after the accident. In the FIR, Constable Kumar alleged that he had gone to re-fuel his car and around 8 a.m. on that day when he reached outside the Mother International School's Gate No 3, there was a heavy traffic jam as parents had come to drop their children to the school. Seeing the traffic jam, Constable Dipak slowed down and it was at that time when the speeding Land Rover hit his vehicle from behind.

Accordingly, based on the Constable's complaint, the police registered an FIR under section 279 (Rash driving or riding on a public way) of the Indian Penal Code at the Malviya Nagar Police station.

"On investigation, the offending vehicle was identified and its driver Vijay Shekhar Sharma was arrested after identification on February 22 and released on bail on the same day," PRO Nalwa said.

Both the vehicles were impounded and mechanically inspected. Investigation in the case is still in progress, the official added.