Vijay Shekhar Sharma's arrest 'exaggerated', minor motor vehicle incident: Paytm

Fintech company Paytm on Sunday issued a clarification following reports of its founder and CEO Vijay Shekhar Sharma's arrest and subsequent bail in February.
 
The company, in a statement, explained 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," noted Paytm.

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The company further said that the "media reports claiming the nature of the arrest are exaggerated, as even the complaint against the vehicle was for a minor offence under a bailable provision of law."
 
Paytm concluded its statement stating that requisite legal formalities were completed on the same day.
 
Sharma was arrested in Delhi on February 22 and later released on bail in a case of rash driving.
 
He had allegedly rammed his car, a Jaguar Land Rover (JLR), into the car of the District Commissioner of Police of South Delhi on Aurobindo Marg, India Today reported. 

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What happened?

Sharma was allegedly speeding his vehicle when he hit DCP Benita Mary Jaiker's car outside Mother's International School in Delhi.
 
The DCP's driver Deepak was out to fill petrol in the car. Sharma purportedly fled from the scene after hitting the car.
 
However, Deepak noted the vehicle's number and reported the accident to DCP Jaiker. A case was subsequently filed under Section 279 (rash or negligent driving) of the Indian Penal Code at the Malviya Nagar Police Station.

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It was then found that the vehicle belonged to a Gurugram-based company. Later, it was traced back to Sharma who resides in South Delhi.
 
He was eventually called to the police station and arrested. Later, Sharma was granted bail as the crime fell under a bailable section of the Indian Penal Code.

(With inputs from Tanseem Haider)