Shares of One97 Communications Limited (Paytm) witnessed a slight surge today, trading at ₹909.25, up 1.01% following news of a settlement with SEBI involving eight individuals linked to the company. SEBI’s adjudication proceedings were concluded after monetary settlements were agreed upon, marking the resolution of allegations related to regulatory violations.
Key Developments:
- Settlement Overview:
- SEBI imposed monetary penalties on eight individuals, including directors and executives associated with Paytm, for alleged regulatory lapses.
- The accused were charged with non-compliance, approval of offer documents containing inaccurate statements, and misrepresentation of promoter status.
- Settlement Details:
- Ashit Ranjit Lilani and Neeraj Arora: ₹53.62 lakh each.
- Ravi Chandra Adusumalli, Mark Schwartz, Pallavi Shardul Shroff, Douglas Feagin, and Munish Varma: ₹42.90 lakh each.
- Amit Khera: ₹11.05 lakh.
- The settlements were finalized after revised terms submitted in September 2024 were approved by SEBI’s Internal Committee, High-Powered Advisory Committee, and Whole-Time Members Panel.
- Regulatory Stand:
- SEBI emphasized the settlements ensure compliance under the SEBI Act while retaining the authority to reopen cases if further discrepancies are identified.
Stock Performance:
- Current Price: ₹909.25 (up ₹9.10, +1.01%)
- Previous Close: ₹900.15
- Day’s High/Low: ₹913.25/₹900.50
- 52-Week Range: ₹310.00 – ₹1,062.95
- Market Cap: ₹573.35 billion
- Volume Traded: 7.18 million shares
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TOPICS:
Paytm