Paytm founder Vijay Shekhar Sharma forfeits shares worth Rs 492 crore after Sebi action

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Vijay Shekhar Sharma, chief executive officer of One97 Communications Limited (OCL), which operates Paytm, has returned 21 million shares, which were allocated to him under the firm’s Employee Stock Ownership Plan (Esop) programme, the company said in a filing to the stock exchanges. The company added that these shares will result in lowering of Esop expenses by around Rs 492 crore.

This comes after months of the market regulator Securities and Exchange Board of India (Sebi) issuing show cause notices to the company for flouting rules on the…



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Paytm founder Vijay Shekhar Sharma forfeits shares worth Rs 492 crore after Sebi action


Vijay Shekhar Sharma, chief executive officer of One97 Communications Limited (OCL), which operates Paytm, has returned 21 million shares, which were allocated to him under the firm’s Employee Stock Ownership Plan (Esop) programme, the company said in a filing to the stock exchanges. The company added that these shares will result in lowering of Esop expenses by around Rs 492 crore.

This comes after months of the market regulator Securities and Exchange Board of India (Sebi) issuing show cause notices to the company for flouting rules on the…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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