Digital payments major One97 Communications (Paytm) has filed a settlement application with the Securities and Exchange Board of India (Sebi) for potential violation of norms on issuing employee stock ownership plan (Esop), according to people in the know. The move follows a showcause notice (SCN) issued by the market watchdog earlier this year.
"The company has received a SCN from Sebi related to the 21 million Esop granted to the Managing Director and CEO of the Company (which is subject to achievement of specified milestones) regarding compliance with Sebi SBEB (Share Based Employee Benefits and Sweat Equity) Regulations. The company has submitted its preliminary response and is in the process of seeking further information from Sebi in this regard," Paytm had disclosed in its annual report for FY24.
Under the consent-settlement route, an alleged wrongdoer can settle a pending violation with Sebi without denying or admitting guilt.
Depending on the seriousness of the issue, Sebi makes the entity getting the show-cause notice pay a fine or undergo a market ban or both.
Bu hikaye Business Standard dergisinin August 27, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Business Standard dergisinin August 27, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
White-collar hiring up 9% in Dec: Report
According to Naukri JobSpeak, the index reached an impressive 2,651 points in December 2024, reflecting a robust 9 per cent year-on-year growth, a promising sign for the year ahead.
Missing Women in South Indian Film Leadership
The South Indian film industry lags Bollywood and other non-South Indian language cinemas in terms of women serving as heads of departments (HoDs) in various stages of filmmaking and streaming series production, according to a recently released report.
Manu Bhaker, Gukesh among four athletes to get Khel Ratna award
Shooter Manu Bhaker, chess world champion D Gukesh, men's hockey captain Harmanpreet Singh and para-athlete Praveen Kumar were on Thursday named recipients of this year's Major Dhyan Chand Khel Ratna Award—the country's highest sporting honour.
MHA warns against 'pig butchering scam'
A new cyber fraud known as \"pig butchering scam\" or \"investment scam\" has emerged, targeting unemployed youths, housewives, students, and needy people who are made to lose large sums of money daily, according to the latest annual report of the Union home ministry.
Insurers to double down on tech, rural expansion for growth in '25
Industry will also focus on strengthening distribution networks and human capital
UNDER THE PUMP
India's 2025 fuel exports could feel the heat of geopolitics, Houthi attacks, growing US supplies, and new refineries
Auto stocks race on December sales boost
Shares of automobile companies rose for the second consecutive day, with Eicher Motors, Maruti Suzuki India (MSIL), Ashok Leyland, and Mahindra & Mahindra (M&M) surging between 4 per cent and 9 per cent on Thursday.
Earnings growth likely to be a key driver this year: Mirae Asset MF
Even as earnings growth has decelerated in recent quarters, India's medium-to-long-term outlook remains robust, driven by strong macro fundamentals, deleveraged corporate balance sheets, robust asset quality, fiscal discipline, favourable demographics, digitisation, and rising income levels, Mirae Asset Mutual Fund said in its outlook for 2025.
Best Dec for IPOs since 1996
15 firms collectively raised ₹25,425 cr last mth
Temper expectations as growth challenges remain: Axis MF
Significant valuation expansion seems unlikely in 2025 amid near-term growth challenges, likely muted inflows from foreign institutional investors (FIIs), and subdued earnings expectations, Axis Mutual Fund (MF) said in its outlook, while asserting that it will be a year of stock picking across market caps.
