No New Sebi Notice On Financial Disclosure: Paytm
Paytm says it is currently in the process of seeking further information from Sebi regarding this matter
One97 Communications, the parent entity that operates the brand Paytm, stated that it made relevant disclosures relating to the regulator's notice in its financial results for the quarter and year ended 31 March 2024, as well as the quarter ended 30 June 2024.
The company received a Securities and Exchange Board of India (Sebi) notice during the quarter ending March 2024 and has already addressed the matter by making a preliminary response.
Paytm said further information from Sebi regarding this matter is currently being sought.
Based on an independent legal opinion obtained by management, the company believed it was compliant with the relevant regulations, as stated in its auditor's review report.
Accordingly, the fintech company asserted there is no impact on the financial results for the current or previous quarters ended 30 June 2024, and 31 March 2024.
In a stock exchange filing on Monday addressing the issue, Paytm stated that regular communication with the market regulator on the matter was in place.
"The Company is in regular communication with the Sebi and making necessary representations regarding this matter. Accordingly, there is no impact on the financial results for previous quarters ended 30 June 2024, and 31 March 2024, respectively," the company stated as part of its stock exchange filing.
The company said its proactive approach in addressing the notice, seeking further information and relevant disclosures as part of its auditor's review report reflects its commitment to adhering to regulatory standards and ensuring transparency in its operations. (ANI)
