Aug 26, 2024 02:17 PM IST
Sebi issued show-cause notices to Paytm’s Vijay Shekhar Sharma and board members over alleged IPO misrepresentation in 2021.
The Securities and Exchange Board of India (Sebi) issued show-cause notices to Vijay Shekhar Sharma, founder of One 97 Communications Ltd (Paytm parent company), and board members who served during its initial public offering in November 2021 for alleged misrepresentation of facts, it was reported. The notices pertain to Vijay Shekhar Sharma’s alleged non-compliance with promoter classification norms. The Reserve Bank of India gave inputs for the probe, the report added.
