Sebi issues notice to Paytm on ESOPs given to MD and CEO Sharma
Sebi issues notice to Paytm on ESOPs given to MD and CEO Sharma
New Delhi: 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 & 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 Sebi to make required representations. According to Paytm’s financial year 2024 annual result filing, it had issued 2.1 crore employee stock options (ESOPs) to Sharma in the FY2022. 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 SEBI and making necessary representations regarding this matter,” Paytm said in response to a stock exchange query.
