Paytm parent One 97 Communications settles Esop case with Sebi

One 97 Communications (OCL), the parent company of digital payments platform Paytm, has settled a case with the Securities and Exchange Board of India (Sebi) over stock allocations under its Employee Stock Ownership Plan (Esop) involving founder Vijay Shekhar Sharma. The settlement was announced on May 8.Key details of the settlement:

• Bar on Esops: Vijay Shekhar Sharma will be barred from accepting new Esops from any listed company for the next three years.
• Fines: Sebi imposed a cumulative fine of approximately Rs 2.8 crore on three parties: OCL, Vijay…