Shares of One97 Communications Limited dropped about 2% on Tuesday after getting a warning notice from the Securities and Exchange Board of India (Sebi) over related party transactions for FY22.
On the Bombay Stock Exchange (BSE), the stock was down 1.78% to Rs 461.30 a share in early trading.
The warning was issued to One 97 Communications, Paytm’s parent firm, for non-compliance with transactions with Paytm Payments Bank that exceeded the allowed limit of Rs 360 crore.
“You are, therefore, warned to be careful in future and improve your compliance standards to avoid recurrence of such instances in future, failing which appropriate enforcement action would be initiated in accordance with the law,” according to the warning letter sent by Sebi to Paytm.
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