[Update] Fresh Trouble For Paytm As SEBI Issues Show Cause Notices Alleging Fact Misrepresentation During IPO

[Update] Fresh Trouble For Paytm As SEBI Issues Show Cause Notices Alleging Fact Misrepresentation During IPO

SUMMARY

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.

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