Paytm Receives RBI Compounding Order on FEMA Matters With No Material Financial Impact

One 97 Communications Ltd. ( (IN:PAYTM) ) has shared an announcement.

One 97 Communications Limited (Paytm) has disclosed that it received a compounding order from the Reserve Bank of India under the Foreign Exchange Management Act (FEMA), relating to past investments involving its subsidiary Little Internet Private Limited by Little Internet Singapore Pte Ltd. The RBI has levied a compounding fee of INR 18.76 lakh in this matter, which the company is in the process of paying, and separately, issues relating to Nearbuy India Private Limited were earlier compounded for about INR 4.28 lakh; the company emphasised that these regulatory resolutions have no material impact on its financials or operations and that the concerned items will be treated as disposed following payment of the fees.

More about One 97 Communications Ltd.

One 97 Communications Limited, which operates under the Paytm brand, is a leading Indian digital payments and financial services company, offering mobile payments, online financial services and related technology solutions to consumers and merchants across India.

Average Trading Volume: 144,162

Technical Sentiment Signal: Buy

Current Market Cap: 727.4B INR

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