One97 Communications, the parent company of Paytm, announced on Monday that it has made relevant disclosures related to the Securities and Exchange Board of India (SEBI) notice in its financial results for the quarters ending March 31, 2024, and June 30, 2024.
The company received a SEBI notice during the quarter ending March 2024 and has already issued a preliminary response. Paytm is currently seeking further information from SEBI regarding this matter.
According to an independent legal opinion obtained by the management, the company believes it is in compliance with the relevant regulations, as confirmed by its auditor’s review report.
Paytm asserts that there is no impact on its financial results for the quarters ended June 30, 2024, and March 31, 2024. In its stock exchange filing on Monday, Paytm confirmed that it is in regular communication with SEBI and is making the necessary representations.
“The Company is in regular communication with SEBI and is making necessary representations regarding this matter. Accordingly, there is no impact on the financial results for the quarters ended June 30, 2024, and March 31, 2024,” the filing stated.
Paytm emphasized its proactive approach in addressing the SEBI notice, seeking further information, and making relevant disclosures as part of its auditor’s review report. This reflects the company’s commitment to adhering to regulatory standards and ensuring transparency in its operations.
(With ANI Inputs)
Also Read: Crisil Projects India’s Urea Import Dependency to Fall to 10-15% From 30%
