Sebi issues notice to Paytm on ESOPs given to CEO Sharma; firm says disclosure already made
New Delhi, August 26: Market regulator Sebi has issued notice to fintech firm One97 Communications, which owns the Paytm brand, in the March 2024 quarter on employee stock options given to its MD and CEO Vijay Shekhar Sharma, according to the company filing on Monday.
In response to a query from stock exchanges, Paytm said the notice is not a new development, and it is in regulatory contact with the market regulator to make required representations.
According to Paytm's financial year 2024 annual result filing, it had issued 2.1 crore employee stock options (ESOP) to Sharma in the financial year 2022.
Sebi had issued a show cause notice to Paytm on ESOP issued to Sharma.
"This is not a new development, as the company had already made relevant disclosures on this matter in its financial results for the quarter and year ended March 31, 2024, as well as the quarter ended June 30, 2024. The company is in regular communication with the Securities Exchange Board of India (SEBI) and making necessary representations regarding this matter," Paytm said in response to a stock exchange query.
The disclosure made on May 22 and July 19 said that Paytm has submitted its preliminary response and is in the process of seeking further information from the regulator in this regard.
"Based on an independent legal opinion obtained by the management, it believes that the company is compliant with the relevant regulations. Accordingly, there is no impact on the financial results for the year ended March 31, 2024," the filing said.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Will continue to fight anti-national forces: Arvind Kejriwal as he walks out of Tihar
New Delhi, Sep 13: In his first remarks after being released from the Tihar Jail, Delhi Chief Minister Arvind Kejriwal on Friday said he will continue to fight "anti-national" forces working to weaken the nation, and asserted the incarceration has only strengthened his resolve.
Hours after the Supreme Court granted him bail in the Delhi excise policy case, Kejriwal stepped out of the jail to a resounding welcome by his party leaders and supporters.
Addressing party workers from the sunroof of a vehicle, Kejriwal raised slogans of 'Inquilab Zindabad' and 'Vande Mataram'.
"I want to thank people who prayed for my release. You have braved rain to come here and I am thankful to you. Every drop of my blood is dedicated in the service of my nation. In my entire life, I have faced difficulties but the God has always been with me," he said.
Kejriwal stressed that the jail time has strengthened his resolve.
"They put me in jail to break me but my resolve has only grown stronger. Jails cannot break me. I will continue my fight against anti-national forces," he said.
Hundreds of Aam Aadmi Party (AAP) workers and senior party leaders, including Punjab Chief Minister Bhagwant Mann and former Delhi deputy chief minister Manish Sisodia, were waiting outside the prison to welcome Kejriwal.
Drenched in rain, Mann, Sisodia raised slogans from atop a truck hailing Kejriwal. Slogans like "Jail ke taale toot gaye, Kejriwal chhoot gaye", "Bhrastachaar ka ek hi kaal, Kejriwal, Kejriwal" rent the air.
