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.
Vijay Shekhar Sharma, founder and chairman of One97 Communications Ltd., operator of Paytm, attends the Japan Fintech Festival in Tokyo, Japan.(Bloomberg)
News/Business/ Paytm’s Vijay Shekhar Sharma faces Sebi show-cause notice over IPO breaches: Report
