PB Fintech Limited — Important, 28-11-2024: General Updates

Paisabazaar Marketing and Consulting Private Limited, a wholly owned subsidiary of PB Fintech Limited, has received notices from the Income Tax Department regarding inquiries into payments made to several vendors and their associated entities, under the Prohibition of Benami Property Transactions Act, 1988, and the Income Tax Act, 1961. The company will respond to these requests for information within the specified timelines.

While details about potential violations are unclear, the management emphasizes its commitment to appropriately address the inquiries. As of now, the financial impact remains unquantified, but the situation warrants close monitoring as the outcomes could affect operational stability and investor confidence. This disclosure indicates ongoing scrutiny that could influence Paisabazaar's reputation and operations, requiring investors to stay informed.