Paytm shares sink 9% on reports of Sebi’s show cause notice to Vijay Sharma

Shares of One 97 Communications plunged 8.88 per cent at Rs 505.25 per share on the BSE after reports emerged that the company’s Founder, Vijay Shekhar Sharma has been served show cause notice by the top market regulator.

According to a Moneycontrol report, the Securities and Exchange Board of India (Sebi) has issued show-cause notices to Vijay Shekhar Sharma, founder of One97 Communications, Paytm’s parent company.