Mumbai: Sebi issued a present trigger discover to Paytm within the March quarter over the grant of worker inventory choices (Esops) to founder and CEO Vijay Shekhar Sharma in FY22, the fintech disclosed in a inventory trade submitting as a part of its earnings assertion on Friday.
Paytm had allotted 21 million Esops to Sharma in the course of the 12 months which have been tied to achievement of specified milestones.“The company submitted its preliminary response and is in the process of seeking further information from Sebi in this regard,” Paytm mentioned.
Paytm, which has been beneath the regulatory scanner since RBI’s transfer to limit operations at its banking unit due to persistent non-compliance, mentioned that the discover has had no influence on the financials of the June and March quarters. “Based on an independent legal opinion, it believes that the company is compliant with the relevant regulations,” Paytm mentioned.
Paytm had allotted 21 million Esops to Sharma in the course of the 12 months which have been tied to achievement of specified milestones.“The company submitted its preliminary response and is in the process of seeking further information from Sebi in this regard,” Paytm mentioned.
Paytm, which has been beneath the regulatory scanner since RBI’s transfer to limit operations at its banking unit due to persistent non-compliance, mentioned that the discover has had no influence on the financials of the June and March quarters. “Based on an independent legal opinion, it believes that the company is compliant with the relevant regulations,” Paytm mentioned.
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Read about SoftBank’s stake discount in Paytm, main to a lower in FDI shareholding. Discover how home buyers elevated their stake within the firm within the June quarter. Learn extra about Paytm’s challenges with regulatory compliance and wider losses in This fall FY24.
