Digital payments giant Paytm, operated by One97 Communications, has approached the Securities and Exchange Board of India (Sebi) with a settlement application regarding potential violations of employee stock option (ESOP) issuance norms.
The move follows a show cause notice (SCN) issued by Sebi earlier this year. The issue centers around the 21 million ESOPs granted to Paytm's Managing Director and CEO, Vijay Shekhar Sharma, tied to specific performance milestones.