Ex-director seeks to stall $2-bn Paytm IPO, company calls it harassment

Paytm’s $2.2 billion IPO is struggling with an strange hurdle – a seventy one-year-aged previous director has urged India’s markets regulator to stall the offering, alleging he is a co-founder who invested $27,five hundred two a long time ago but never obtained shares.

In authorized files found by Reuters, Paytm states the claim by Ashok Kumar Saxena and allegations of fraud in a police criticism in New Delhi are mischievous makes an attempt to harass the company. The dispute while is cited under “felony proceedings” in Paytm’s July IPO prospectus filed for regulatory acceptance.

Saxena denied harassment and explained Paytm had a significant profile situation that intended a private personal like him was not in a situation to harass the company.

Saxena has approached the Securities and Trade Board of India (SEBI) to stall the IPO, arguing traders could shed money if his claim is proved proper, according to a

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