Paytm parent's related party transactions with Paytm Payments Bank approved

While 72% of all votes polled were favoured the resolution, almost 67% votes on account of public institutional investors were against

Shareholders of One97 Communications (OCL), the parent company of fintech major Paytm, have approved the company’s related party transactions (RPTs) with Paytm Payments Bank (PPB), according to regulatory filings last week.

While 72 per cent of the total votes polled were in favour of the resolution, almost 67 per cent of the votes on account of public institutional investors went against it. More than 26 crores votes showed as ‘abstained’ as they are related party members. According to regulations, related party members can either abstain or vote against the resolution.

The particulars of Paytm’s resolution on material related party transactions was shared