Paytm founder granted bail after arrest for hitting DCP's car
Paytm founder and CEO Vijay Shekhar Sharma was arrested last month and released on bail, reports said on Sunday. Sharma had been arrested for rash or negligent driving after he "rammed" his Jaguar Land Rover into the vehicle of DCP (South district) in Delhi. The incident took place on February 22. Paytm said Sharma was released on bail the same day of his arrest.
Why does this story matter?
Sharma's brief arrest had remained unreported for weeks and only came to light on Sunday. The police allege that Sharma was driving rashly and sped off after the accident. The incident occurred during the daytime. Since he was charged for rash or negligent driving under the bailable Section 279 of the Indian Penal Code, he could secure bail.
What happened on the day of the accident?
On February 22, Sharma was allegedly speeding while driving his Jaguar Land Rover. He hit the vehicle of DCP Benita Marie Jaiker outside Mother's International School on Aurobindo Marg. There was a traffic jam on the day as people had gathered to drop off their kids to school. The DCP's driver, Dipak Kumar, noted the car's number and reported it to the police.
Sharma arrested after police contacted Paytm
The car was found to be registered under the name of the digital payments company Paytm. When contacted, Paytm told the police that the car was being used by Sharma, who is a resident of Greater Kailash-II. Sharma was called to the Malviya Nagar Police Station, where he was arrested and released on bail. Sharma has not yet acknowledged the incident publicly.
'Minor motor vehicle incident,' says Paytm
In a statement, a Paytm spokesperson said, "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...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," they said.
