Annual Secretarial Compliance Report for the financial year ended March 31, 2025
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One 97 Communications (Paytm) filed its Annual Secretarial Compliance Report for FY25, confirming full compliance with all applicable SEBI regulations, including Listing Regulations, Insider Trading rules, and Secretarial Standards. No non-compliances, penalties, or enforcement actions by SEBI or stock exchanges were reported during the review period, and all related party transactions received prior Audit Committee approval. The report also disclosed a prior SEBI Show Cause Notice (received in FY24) concerning ESOPs granted to MD & CEO Vijay Shekhar Sharma (2,10,00,000 ESOPs) and his relative Ajay Shekhar Sharma (2,26,582 ESOPs) under the One 97 ESOP 2019 Scheme. Both parties voluntarily surrendered their ESOPs, and on May 8, 2025, the matter was settled with SEBI under the Settlement Regulations without admitting or denying the findings. The settlement order was disclosed to the stock exchanges on the same day.
This is a routine, largely positive compliance filing that shows Paytm met all SEBI regulatory requirements for FY25 with no new penalties or actions. The ESOP-related matter from FY24 is now fully closed via settlement, with no monetary fine—the only cost being the surrender of ESOPs by the chairman and his relative—so there should be limited residual regulatory overhang for shareholders.