- Paytm Share Price Today: Paytm shares fell 1.77% to ₹461 in early trade on NSE. This morning, Paytm shares opened at Rs 466 and reached Rs 471.40 and touched the day’s low of Rs 461.20.
Paytm shares fell after SEBI’s warning,
Paytm Share Price Today: After receiving the warning letter from SEBI, Paytm shares have fallen by almost two and a half percent today. Paytm shares fell 1.77% to ₹461 in early trade on NSE. This morning, Paytm shares opened at Rs 466 and reached Rs 471.40 and touched the day’s low of Rs 461.20.
Fintech major Paytm’s parent company One97 Communications has received an administrative warning letter from SEBI regarding related party transactions done by the company or its subsidiaries with Paytm Payments Bank for FY 2022, Live Mint reported.
Why did SEBI give warning letter?
Sebi found several non-compliances during the investigation and said One 97 Communications conducted transactions with Paytm Payments Bank in excess of the approved resolution limit of ₹360 crore. “Therefore, you are cautioned to be cautious and improve your compliance standards to avoid recurrence of such incidents in future. Failure to do so will result in enforcement as per law,” SEBI said in its warning letter to Paytm. “Action will be initiated.”
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What did Paytm say in response to the warning?
In response to SEBI’s administrative warning, Paytm said it has consistently complied with all the listing regulations issued from time to time. In a stock exchange filing, Paytm said it is committed to maintaining the highest compliance standards. The company believes that it has consistently operated in compliance with Regulation 23 along with Regulation 4(1)(h) of the SEBI Listing Regulations, including any amendments and updates thereto over time.” Paytm said in the warning letter. There will be no impact on the financial, operational or other activities of the company.”
