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Wirecard Faces Questions in Indian Suit Over Unit Purchase

Ex-owners of Indian unit sue over purchase price discrepancies
GI Retail says Wirecard misrepresented transaction details

An logo sits above illuminated office windows at the Wirecard AG headquarters at dawn in the Aschheim district of Munich, Germany.Photographer: Michaela Handrek-Rehle/Bloomberg

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By Luca Casiraghi, Ganesh Nagarajan, and Jonathan Browning

April 1, 2019 at 4:44 PM UTC

Updated on

April 2, 2019 at 8:11 AM UTC

This article is for subscribers only.

Wirecard AG, the German online payments company dogged by an accounting scandal, faces new questions in a lawsuit about how much it paid for an Indian subsidiary.

The former owners of Hermes I-Tickets, a company Wirecard bought in 2015, are suing the German company over allegations it made false claims about how much it paid to them at the time, according to a lawsuit filed in Chennai, India. GI Retail Pvt. Ltd. is asking Wirecard to clarify details of the transaction.