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Fintech major Paytm has settled ESOP-related case with markets regulator SEBI by paying a penalty of INR 1.1 Cr to the regulator as well as cancelling the 2.1 Cr stock options granted to its founder and CEO Vijay Shekhar Sharma and 2.2 Lakh ESOPs granted to his brother and CBO-marketing cloud business Ajay Shekhar Sharma.
The founder and CEO has been prohibited from accepting any fresh ESOPs from the listed company for a period of three years. Besides, he coughed up INR 1.1 Cr to the regulator as settlement amount.
Similarly, his brother…
