Here's why Paytm founder was arrested by Delhi Police

Vijay Shekhar Sharma, the Paytm founder, was arrested by the Delhi Police on February 22; he was later granted bail after he allegedly rammed his car into the South Delhi Deputy Commissioner of Police's vehicle on Aurobindo Marg. 

About the incident,

Vijay Shekhar Sharma allegedly ran his Jaguar Land Rover when he hit DCP Benita Marie Jaiker's car outside Mother's International School in Delhi. The driver of the DCP was on his way to fill petrol in the car. After Sharma hit the vehicle, he purportedly escaped from the spot. 

But, the driver registered the car number and reported the accident to the DCP. Accordingly, a case was filed under section 279 (rash or negligent driving) of the Indian Penal Code at Malviya Nagar police station. 

Later, it was found that the car belonged to a company based in Gurugram in Haryana. It was tracked back to Vijay Shekhar Sharma, who lives in south Delhi. Sharma was called to the police station and was arrested. Soon after the arrest, he was granted bail as the crime fell under a bailable section of the Indian Penal Code. 

About Vijay Sharma,

Paytm was founded in 2010 by Vijay Shekhar Sharma, the son of a school teacher and an engineering graduate. It began as a platform for mobile phone recharges. Paytm experienced rapid growth after Uber added it as a quick payment option.

According to Forbes, Vijay Sharma has a net worth of USD 2.4 billion due to the company's success.

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