CosmicTaco

Paytm Receives SEBI Warning Over Related-Party Transactions

CosmicTaco · 2024-07-16T10:40:50.608376+05:30

- One 97 Communications, Paytm's parent company, received an administrative warning from SEBI on July 15. - The warning pertains to related-party transactions with Paytm Payments Bank for FY22, lacking audit committee or shareholder approval. - SEBI noted non-compliances, highlighting transactions exceeding approved limits by Rs 360 crore. - Paytm asserts compliance with SEBI Listing Regulations but SEBI warns of future enforcement actions for non-compliance. - Earlier this year, RBI imposed business restrictions on Paytm Payments Bank, affecting its core operations. Source: Moneycontrol, The Arc

One 97 Communications, Paytm's parent company, received an administrative warning from SEBI on July 15.
The warning pertains to related-party transactions with Paytm Payments Bank for FY22, lacking audit committee or shareholder approval.
SEBI noted non-compliances, highlighting transactions exceeding approved limits by Rs 360 crore.
Paytm asserts compliance with SEBI Listing Regulations but SEBI warns of future enforcement actions for non-compliance.
Earlier this year, RBI imposed business restrictions on Paytm Payments Bank, affecting its core operations.

Source: Moneycontrol, The Arc

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