Exclusive: A former director seeks to stall $2 billion Paytm IPO, alleging he is a co-founder who invested $27,500 two decades ago but never got shares. Paytm says the claim is baseless. adityakalra reports
In legal documents seen by Reuters, Paytm says the claim by Ashok Kumar Saxena and allegations of fraud in a police complaint in New Delhi are mischievous attempts to harass the firm. The dispute though is cited under "criminal proceedings" in Paytm's July IPO prospectus filed for regulatory approval.
Saxena has approached the Securities and Exchange Board of India to stall the IPO, arguing investors could lose money if his claim is proved right, according to a previously unreported complaint seen by Reuters.Shriram Subramanian of shareholder advisory firm InGovern said the tussle could spark regulatory inquiries and complicate or delay the approval of Paytm's IPO that could value it at up to $25 billion.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
AMC CEO says theater chain is going 'on offense' with its $2 billion in liquidityAfter enduring the pandemic disruptions of 2020, AMC Entertainment has staved off bankruptcy and now the company's CEO Adam Aron is going on the offensive.
Weiterlesen »
For $2 Million, a Chance to Spend Eternity Next to Marilyn Monroe and Hugh HefnerAt Pierce Brothers Westwood Village Memorial Park in Los Angeles, an unused burial crypt is being shopped by the family of the late Broadway composer Jerry Herman.
Weiterlesen »
More red ink: US budget deficit through July hit $2.54TThe U.S. budget deficit hit $2.54 trillion for the first 10 months of this budget year, fed by spending to support the country after the pandemic-induced recession. The deficit for the 2020 budget year hit an all-time high of $3.1 trillion after Congress passed trillions of dollars in support in the form of individual stimulus payments, enhanced unemployment benefits and support for small businesses. The Congressional Budget Office is forecasting that this year's deficit will narrow slightly to $3 trillion.
Weiterlesen »
EXCLUSIVE Exxon launches U.S. shale gas sale to kick-start stalled divestituresExxon Mobil Corp (XOM.N) has begun marketing U.S. shale gas properties as it ramps up a long-stalled program that aims to raise billions of dollars to shed unwanted assets and reduce debt taken on last year.
Weiterlesen »
Marimekko’s New Creative Director Makes Her Debut at Copenhagen Fashion WeekMarimekko’s new creative director makes her debut at CopenhagenFashionWeek
Weiterlesen »
Jenean Glover Joins The Blackhouse Foundation As Inaugural Executive DirectorEXCLUSIVE: The Blackhouse Foundation welcomes Jenean Glover as its inaugural executive director. The non-profit organization was previously board-led. In her new role, Glover will be in charge of p…
Weiterlesen »