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.
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EAM Jaishankar meets Jamaican PM, gifts over 10 BHISHM Cubes
Kingston (PTI): External Affairs Minister S Jaishankar on Monday met Jamaican Prime Minister Andrew Holness and discussed ways to further deepen "political, economic and people-to-people cooperation."
Jaishankar also conveyed greetings from Prime Minister Narendra Modi to Holness.
"Pleased to call on Prime Minister @AndrewHolnessJM in Kingston. Conveyed the greetings of PM @narendramodi," Jaishankar posted on X.
"Discussed deepening our political, economic and people-to-people cooperation. Value his commitment towards further strengthening India-Jamaica relations," the post further read.
Also, the external affairs minister handed over 10 BHISHM (Bharat Health Initiative for Sahyog Hita & Maitri) Cubes as a gift to Jamaica.
"Formally handed over 10 BHISHM Cubes as a gift from India to Jamaica, in the presence of PM @AndrewHolnessJM, Health Minister @christufton and FM @kaminajsmith," Jaishankar posted on X.
"The BHISHM Cube mobile hospital system, designed for rapid deployment, will help Jamaica during disasters and emergencies. The gift of these cubes is a statement of friendship, a commitment to disaster preparedness, and an outcome of innovation," the post said.
Jaishankar arrived in Kingston on Saturday evening, marking the first leg of his nine-day tour of Jamaica, Suriname, and Trinidad and Tobago, aimed at further strengthening India's strategic and cultural ties with the Caribbean nations.
Earlier in the day, he interacted with the Indian diaspora and discussed India's ongoing transformation in infrastructure, human development and technology-driven governance and entrepreneurship with them.
He also highlighted the cricket bond between both countries as India gifted a scoreboard to Jamaica.
A scoreboard was dedicated at Sabina Park in Kingston. It is the home of the Jamaica cricket team and is the only Test cricket ground in the Caribbean island nation.
The minister expressed hope that the new scoreboard would witness many memorable innings, including those symbolising the enduring friendship between the two countries.
Cricket has long been a strong cultural bridge between India and Jamaica, which is part of the West Indies cricket team.
Jamaican players, including Chris Gayle, Courtney Walsh and Michael Holding, have played a major role in shaping the legacy of West Indies cricket in the international arena, contributing to its dominance in earlier decades and its continued global appeal.
