Sebi issues show cause notice to PB Fintech Chairperson Yashish Dahiya on $2 million investment
The company said it is taking Iegal opinion on the issue to take appropriate steps on the SCN. PB Fintech has maintained that there will be no material impact on the company's financials and operations.
Market regulator () has issued a to , Chairperson and CEO of for investing $2 million to buy a 26.72% stake in , the company on Thursday informed exchanges in a filing."The SCN pertains to of $2 Million by FZ-LLC, Dubai on November 17, 2022 for 26.72% stake in YKNP Marketing Management (an unrelated party) which was not considered (UPSI) due to non-material value of the transaction," the exchange filing said.
The company said it is taking Iegal opinion on the issue to take appropriate steps on the SCN. has maintained that there will be no material impact on the company's financials and operations.
Sebi issued a show cause notice via an email communication dated June 5, 2024.
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Source: Stocks-Markets-Economic Times
