Paytm Receives New SEBI Notice: Is Market Regulator’s Authority in Question?
The Securities and Exchange Board of India (SEBI), the market regulator, has issued a show-cause notice to Paytm’s founder, Vijay Shekhar Sharma. This notice questions the classification of Sharma as a ‘non-promoter’ during Paytm’s IPO (Initial Public Offering) launch, which SEBI alleges was a misclassification. However, the crux of the matter transcends the IPO classification; ...