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PB Fintech subsidiary Paisabazaar under IT scanner over vendor payments

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PB Fintech subsidiary Paisabazaar under IT scanner over vendor payments

PB Fintech Limited's subsidiary, Paisabazaar, has received notices from the Income Tax Department regarding certain vendor payments. The notices seek explanations on transactions and services provided by vendors and related entities. Paisabazaar has committed to providing responses within the given timeline. The financial impact of these notices is currently uncertain. In addition, the company had previously received a notice from SEBI regarding a potential violation of insider trading rules. The company stated that this notice does not affect its finances or operations and is seeking legal advice for an appropriate response. There has also been a reorganization of the company's board committees, with changes in the audit committee.

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