Paytm Money settles case with Sebi

New Delhi: Paytm Money, an arm of fintech firm One97 Communications, on Thursday settled with markets regulator Sebi a case pertaining to alleged violation of norms after paying Rs 45.50 lakh in settlement amount. The case stemmed from alleged violations of Sebi’s technical glitch framework outlined in its circular dated November 25, 2022. The order came after Paytm Money filed a settlement application in September last year, proposing to settle the instant proceedings initiated against it, without “admitting or denying the findings of facts and conclusions of law”. “...the instant adjudication proceedings initiated against the noticee vide SCN dated July 24, 2024, is disposed of in terms of the settlement regulations,” Sebi’s adjudicating officer Asha Shetty said in the order.

The Securities and Exchange Board of India (Sebi) initiated adjudication proceedings against Paytm Money Ltd for the alleged violation. Thereafter, Sebi issued the SCN to Paytm Money on July 24, 2024, for the alleged violation of not settling the permissible limit of 70 per cent for generation of timely alerts for all critical assets.