SEBI sends show-cause notices to Paytm CEO, directors over IPO irregularities
According to multiple reports citing sources, the SEBI notices also allege non-compliance with promoter classification norms.
According to multiple reports citing sources, the SEBI notices also allege non-compliance with promoter classification norms.
The Markets regulator, the Securities and Exchange Board of India (SEBI), will not allow Paytm-like 'contamination' in the stock markets, its Chairperson Madhabi Puri Buch said on Tuesday.
Parent company of fintech giant Paytm, One97 Communications, on Friday reported that its consolidated loss had widened to Rs 840.1 crore for the quarter ended June 30, 2024 (Q1FY25).
The crisis for the fintech giant Paytm mounted as the markets regulator gave an administrative warning to the digital payments company for certain transactions with its banking unit in the fiscal year 2021-22.
Paytm Founder and CEO Vijay Shekhar Sharma has said the company was like his daughter who was a school topper and met with an accident on the way to an entrance test.
Data from the National Payments Corporation of India (NPCI) said it processed 1,117.13 million transactions in April, a 9 per cent month-on-month decline in volume from 1,230.04 million transactions handled in March.
Vijay Shekhar Sharma, Founder and CEO, Paytm, thanked Bhavesh Gupta for his contributions and his role in ensuring a smooth transition.
Paytm saw its worse after the Reserve Bank of India (RBI) put a ban over the operations of its payment bank services.
The service also has features like 'Most Selected by Females' Tag.
Paytm had said that the customers can continue to use FASTag to pay at enabled toll and parking merchants up to the available balance in their wallet.