Paisabazaar gets adverse order under Benami Property Transactions Act

PB Fintech subsidiary receives adverse order under Benami law; company says it will appeal and sees no immediate financial impact

PB Fintech, the parent entity of fintech major Policybazaar, on Friday told exchanges that its wholly owned subsidiary, Paisabazaar Marketing and Consulting Private Limited, has received an adverse order from the Office of the Adjudicating Authority under the Prohibition of Benami Property Transactions Act, 1988. The order, dated March 24, 2026, was received by the company on March 26.

 

This development follows an earlier communication from the company in November 2024 regarding proceedings under the same Act. According to the regulatory filing, the Adjudicating Authority (AA) has confirmed an order previously passed by the Initiating Officer (IO) on February 27, 2025. That original order was issued against certain vendors of Paisabazaar, in which the fintech firm was alleged to be the “beneficial owner” in respect of its transactions with them.

 

 

Under Section 26(3) of the PBPT Act, the Adjudicating Authority has the power to pass an order holding a property to be “benami” if it determines that the property in question — in this case, transaction-related assets — is held by one person but paid for by another for their own benefit.

 

However, PB Fintech has maintained that the ruling will not have an immediate impact on its financial or operational health. The company stated that because the order is appealable, it intends to challenge the AA’s findings before the relevant appellate tribunal in due course.

 

“Since the order is appealable and the Company shall file an appeal against the order in due course, there is no financial impact at this point of time,” the company said in its disclosure to the National Stock Exchange and BSE.