Paytm Affirms Compliance Amid SEBI Notice: No Impact on Financial Results

One97 Communications, operating Paytm, addressed a SEBI notice in its recent financial disclosures. The company maintains compliance, seeking further information, and reports no impact on financial results for quarters ending March 31 and June 30, 2024.

One97 Communications, the parent company behind Paytm, announced on Monday that it had included relevant disclosures regarding SEBI's notice in its financial results for the quarter and year ending March 31, 2024, as well as the quarter ending June 30, 2024.

The company received a SEBI notice during the quarter ending March 2024 and has already made a preliminary response. Paytm is now seeking further information from SEBI on the matter. An independent legal opinion obtained by management supports their belief that they are compliant with the relevant regulations, as confirmed by the auditor's review report.

Consequently, the fintech giant asserts that there is no impact on the financial results for the current or previous quarters ending June 30, 2024, and March 31, 2024. In a recent stock exchange filing, Paytm reiterated its ongoing communication with the Securities Exchange Board of India (SEBI) concerning the notice.

The filing emphasized Paytm's commitment to regulatory standards, transparency, and proactive resolution of the issue, as highlighted by the auditor's review report.

(With inputs from agencies.)