Former directors of Paytm settle matter with Sebi for Rs 3.32 crore

Seven former directors and the former compliance officer of One97 Communications — the parent firm of Paytm — have paid Rs 3.32 crore to the Securities and Exchange Board of India (Sebi) as part of a settlement in the alleged violation of regulatory norms.

These former directors — all part of the then Nomination and Remuneration Committee (NRC) — were accused of violating rules while deciding benefits given to the company’s managing director and chief executive officer Vijay Shekhar Sharma and his relatives.