Paisabazaar Marketing and Consulting Private Limited, a wholly owned subsidiary of PB Fintech, has received an order under section 26(3) of the Prohibition of Benami Property Transactions Act, 1988. The order was issued by the Office of the Adjudicating Authority, Prohibition of Benami Property Transactions Act, New Delhi, dated March 24, 2026, and was received on March 26, 2026.
The order confirms the decision made by the Initiating Officer under section 24(4) of the PBPT Act on February 27, 2025, regarding certain vendors of Paisabazaar. The vendors were alleged to have Paisabazaar as the beneficial owner in their transactions. This order is appealable, and Paisabazaar intends to file an appeal in due course.
At present, there is no financial impact on PB Fintech as the order is subject to appeal. The company has stated that it will pursue legal recourse against the order.
The full disclosure of this event will be available on PB Fintech’s website at www.pbfintech.in.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).