One 97 Communications (OCL), the parent company of digital payments platform rel=”dofollow” href=”https://economictimes.indiatimes.com/one97-communications-ltd/stocks/companyid-2017785.cms” data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank”>Paytm, has settled a case with the Securities and Exchange Board of India ( ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/sebi” target=”_blank”>Sebi) over stock allocations under its Employee Stock Ownership Plan ( data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank” href=”https://economictimes.indiatimes.com/definition/esop”>Esop) involving founder data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank” href=”https://economictimes.indiatimes.com/panache/panache-people-101/vijay-shekhar-sharma/profileshow/80585073.cms”>Vijay Shekhar Sharma. The settlement was announced on May 8.Key details of the settlement:
- Bar on Esops: Vijay Shekhar Sharma will be barred from accepting new Esops from any listed company for the next three years.
- Fines: Sebi imposed a cumulative fine of approximately Rs 2.8 crore on three parties: OCL, Vijay…
