Paytm gets Sebi warning for transactions with banking unit, defends itself

One97 Communications (OCL), owner of payments aggregator Paytm, on Tuesday received an administrative warning from the Securities and Exchange Board of India (Sebi), the markets regulator, with regard to related-party transactions, the firm said.

The firm and its subsidiaries processed two transactions — service taken by OCL from Paytm Payments Bank and service to the bank from the company in 2021-22 (FY22) — allegedly without approval from its shareholders or the audit committee. The amounts in the two transactions have been estimated at Rs 324 crore and Rs 36 crore, respectively.