sg.finance.yahoo.com

SEBI notice to Paytm top management over 2023 small-loan disclosure timing

Paytm logoPaytm
Sig2.53Sen-2.73Env0.00Soc-0.68Gov-3.85

Paytm said SEBI has issued a show-cause notice to top management, including CEO Vijay Shekhar Sharma and CFO Madhur Deora, over the timing of its Dec 6, 2023 announcement curbing sub-50,000 rupee personal loans after RBI tightened consumer lending rules. Management has 14 days to respond; Paytm expects no financial impact. The disclosure followed by share drops of about 20% on the next trading day; SEBI could impose penalties or restrictions if upheld.

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