New Delhi [India], August 26 : One97 Communications, the parent entity that operates the brand Paytm, stated on Monday, as part of its stock exchange filing, that it had made relevant disclosures relating to SEBI's notice in its financial results for the quarter and year ended March 31, 2024, as well as the quarter ended June 30, 2024.
The company received a SEBI notice during the quarter ending March 2024 and has already addressed the matter through making a preliminary response.
Paytm said it is currently in the process of seeking further information from SEBI regarding this matter.
Based on an independent legal opinion obtained by management, the company believes it is compliant with the relevant regulations, its auditor's review report stated.
Accordingly, the fintech company asserts there is no impact on the financial results for the current or previous quarters ended June 30, 2024, and March 31, 2024.
In a stock exchange filing on Monday addressing the issue, Paytm stated that it is in regular communication with the markets regulator on the matter.
"The Company is in regular communication with the Securities Exchange Board of India (SEBI) and making necessary representations regarding this matter. Accordingly, there is no impact on the financial results for previous quarters ended June 30, 2024, and March 31, 2024, respectively," the company stated as part of its stock exchange filing.
The company says its proactive approach in addressing the notice, seeking further information and relevant disclosures as part of its auditor's review report reflects its commitment to adhering to regulatory standards and ensuring transparency in its operations.
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