Delhi HC Orders Winding Up of Paytm Payments Bank

The court has appointed Girikumar M. Nair, a former Chief General Manager of State Bank of India, as the Official Liquidator of Paytm Payments Bank. According to the RBI, the Official Liquidator is authorised to exercise all powers available under the Banking Regulation Act as well as the relevant provisions of the Companies Act.

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“The High Court appointed Girikumar M Nair as the Official Liquidator of PPBL. As per the said order, the Official Liquidator shall exercise all the powers prescribed under the provisions of the Banking Regulation Act, 1949 along with applicable provisions of the Companies Act, 2013,” the RBI said.

The statement further clarified that the Official Liquidator has been exercising all the powers of the bank’s board of directors with effect from 8 July 2026.

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The winding-up order follows the RBI’s decision in April 2026 to cancel Paytm Payments Bank’s licence. At that time, the central bank had concluded that the bank’s affairs were being conducted in a manner detrimental to the interests of its depositors and had announced its intention to approach the Delhi High Court for winding-up proceedings.

The sequence of regulatory action and judicial orders now places the bank under formal liquidation. The Official Liquidator will oversee the process of settling claims, realising assets and completing the legal closure of the entity in accordance with the applicable statutes.

For depositors and other stakeholders, the appointment of a liquidator marks the transition from regulatory intervention to structured resolution under court supervision. The RBI’s public confirmation of the High Court orders provides official clarity on the status of Paytm Payments Bank and the authority under which its remaining affairs will be managed.