Paytm gets rap from Sebi over old transactions, shares decline

Company says it has followed norms

PTI

Updated At : 02:14 PM Jul 17, 2024 IST

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New Delhi, July 16

One 97 Communications, which is Paytm’s parent firm, has got an “administrative warning letter” from SEBI over related party transactions it had entered into with Paytm Payments Banks (PPBL) in FY22 without due approval of either audit committee or the shareholders.

In a BSE filing, the company said it has consistently acted in compliance with SEBI regulations. The fintech firm further said it is “committed to demonstrating the highest compliance standards.”

The Securities and Exchange Board of India (SEBI), in a letter on July 15, said it had conducted an examination in relation to the disclosure of financial and other information relating to One 97 Communications and its associate Paytm Payments Bank Limited.

Paytm’s shares declined over 2 per cent.

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