Paytm CEO and CFO Receive SEBI Show Cause Notice Over 2023 Loan Disclosure Timing
Paytm’s CEO Vijay Shekhar Sharma and CFO Madhur Deora were served a SEBI show cause notice over the timing of a December 6, 2023 announcement to scale back small personal loans below 50,000 rupees, including whether the information should have been treated as unpublished price sensitive information. Shares fell about 20% after the disclosure, though the stock had already dropped around 12% beforehand; sentiment later improved and the shares gained nearly 20% over the prior month.