PB Fintech’s wholly-owned subsidiary, Paisabazaar Marketing and Consulting, has received an order from the Adjudicating Authority concerning the Prohibition of Benami Property Transactions Act, 1988. The order, dated March 24, 2026, confirms an earlier finding by the Initiating Officer against certain vendors where Paisabazaar was alleged to be the beneficial owner. The company confirmed receipt on March 26, 2026. Since the order is appealable, no immediate financial impact is anticipated.
Corporate Disclosure on Regulatory Action
PB Fintech Limited issued a mandatory disclosure concerning its subsidiary, Paisabazaar Marketing and Consulting Private Limited. The disclosure relates to an order received under the Prohibition of Benami Property Transactions Act, 1988 (PBPT Act).
Details of the Authority Order
The official communication came from the Office of the Adjudicating Authority, Prohibition of Benami Property Transactions Act, New Delhi (referred to as “AA”).
- Date of Order: March 24, 2026.
- Date of Receipt: The company received this order on March 26, 2026.
- Nature of Action: The AA passed an Order u/s 26(3) of the PBPT Act.
Alleged Contravention
The order received confirmed the initial finding passed by the Initiating Officer (‘IO’) under section 24(4) of the PBPT Act, which was dated February 27, 2025. This finding alleged that Paisabazaar was the beneficial owner in respect of certain transactions conducted with specified vendors.
Impact Assessment and Appeal Plan
The company provided a clear assessment regarding the current standing of the matter:
- Appealability: The order passed by the Adjudicating Authority is appealable.
- Next Steps: Paisabazaar has confirmed its intention to file an appeal against the order in due course.
- Financial Implication: Due to the appealable nature of the ruling, the company stated that there is no financial impact at this point of time on its operations or financials.
The full disclosure, as required, is also being hosted on the company’s website, www.pbfintech.in.
Source: BSE
