Subscribe to BCA Journal Know More

March 2024

From Published Accounts

By Himanshu Kishnadwala, Chartered Accountant
Reading Time 4 mins

Compilers’ Note:

Illustration of disclosure and reporting for compliances to be carried out as directed by the Reserve Bank of India (RBI) regarding authorisation to setup payment system by a Subsidiary and strengthening of KYC / AML process of an Associate. The RBI had subsequently imposed restrictions on certain business operations to be carried out by the said Subsidiary and the Associate.

ONE 97 COMMUNICATIONS LIMITED (QUARTER AND 9 MONTHS ENDED 31ST DECEMBER, 2023)

From Notes to Unaudited Consolidated Financial Results

7. Notes given by the subsidiary and associate in their respective Unaudited Special Purpose Interim Condensed Financial Statements/Information:

a) Paytm Payments Services Limited (Subsidiary): “The Company filed an application for authorization to set up Payment System (‘PA application’) under sub-section (1) of Section 5 of the Payment and Settlement Systems Act, 2007 with the Department of Payment and Settlement Systems, Reserve Bank of India (“RBI”) on 8th January, 2021, in response to which, the Company received a letter from the RBI on 25th November, 2022. As per the letter, the Company was required to obtain n

Read More
Download PDF

You May Also Like

Accounting Of Losses in an Associate

NFRA Digest