The Delhi High Court has ordered the winding up of Paytm Payments Bank Limited (PPBL) following the cancellation of its banking licence by the Reserve Bank of India (RBI) in April 2026 over persistent regulatory non-compliance.
According to the RBI, the High Court, through its orders dated July 8 and July 22, 2026, directed that PPBL be wound up under the provisions of the Banking Regulation Act, 1949, read with the Companies Act, 2013.
The Court has appointed Girikumar M. Nair as the official liquidator to oversee the winding-up process.
The RBI had earlier stated that PPBL’s affairs were being conducted in a manner detrimental to the interests of depositors. Following the licence cancellation on April 24, 2026, the central bank approached the Delhi High Court seeking liquidation of the bank and the appointment of a liquidator.