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(29/07/2026 10:50)

Delhi High Court orders winding up of Paytm Payments Bank

The Delhi High Court has ordered the winding up of Paytm Payments Bank Ltd (PPBL) under the provisions of the Banking Regulation Act, 1949 and the Companies Act, 2013, following the cancellation of the bank's licence by the Reserve Bank of India (RBI).

The RBI had revoked PPBL's banking licence with effect from April 24, 2026, and subsequently approached the High Court seeking the bank's winding up and the appointment of a liquidator.

Pursuant to the High Court's orders dated July 8 and July 22, 2026, Shri Girikumar M. Nair, former Chief General Manager of the State Bank of India, has been appointed as the Official Liquidator. Effective July 8, 2026, the Official Liquidator has assumed all powers of PPBL's Board and will oversee the liquidation process in accordance with the applicable provisions of the Banking Regulation Act and the Companies Act.
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