The SEBI notices are reportedly related to Sharma’s alleged non-compliance with promoter classification norms
The probe was initiated based on inputs from the Reserve Bank of India (RBI), which also examined Paytm Payments Bank earlier this year
Paytm clarified in an exchange filing that that it was not a new development
Update | August 26, 5.12 PM
Following a media report that Paytm’s founder and a few board members have received show-cause notices from the SEBI, the fintech major clarified that it is not a new development.