Airtel, Reliance Jio, BSNL, MTNL and Vodafone, the leading online payment platform PayTM, have filed a lawsuit against the company.
The complaint alleges that Phish aided and abetted SMS by name similar to Pay TM. The company notes that many have been defrauded. According to a petition filed by PayTM, the company has lost Rs 100 crore.
The scams have been linked with Paytm, PTYM, PTM, IPAYTN, PYTKYC, BPaytm, FPAYTM and PAYTMB names that are similar to PayTM.
This is a violation of the Telecom Commercial Communications Customer Preference Regulation introduced by the Telecom Regulatory Authority in 2018.
The TRAI Act stipulates that telecom companies should only allow such SMS and calls to their customers after the registration of telemarketing companies has been verified.