One 97 Communications Limited (Paytm) has announced the voluntary winding up of its associate company Paytm Payments Bank Limited (PPBL) following the Reserve Bank of India's cancellation of PPBL's banking licence on April 24, 2026. The disclosure was made under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Regulatory Action and Board Approval

PPBL informed Paytm on April 25, 2026, at 7:04 p.m. (IST) that its Board of Directors and Shareholders had approved necessary resolutions at their respective meetings held the same day to enable the winding-up process. This decision follows the RBI's press release dated April 24, 2026, announcing the cancellation of PPBL's banking licence.

Impact on Associate Company Status

Upon the winding-up order becoming effective, PPBL will cease to be an associate company of One 97 Communications Limited within the meaning of the Companies Act, 2013, and the applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Business Operations Continuity

Paytm has assured shareholders and investors that the winding-up of PPBL and the consequential cessation of the associate relationship are not expected to have any material impact on the company's business, operations, or financial condition. The company emphasized that it continues to operate its businesses independently and in accordance with applicable laws and regulations.

Financial Exposure and Business Arrangements

The company reiterated that it does not have any exposure to PPBL or any material business arrangements with the payments bank. This independence ensures that Paytm's core services and operations remain unaffected by PPBL's winding-up process.

Regulatory Compliance Details

As part of the disclosure requirements under Regulation 30, Paytm provided detailed information in Annexure A, confirming that PPBL contributed nil amount and percentage to the company's turnover, revenue, income, and net worth during the last financial year. The consideration receivable by the company, if any, will be determined as per the orders of the appropriate court or authority for the winding-up process.

Paytm has issued an official statement clarifying its relationship with PPBL (Paytm Payments Bank Limited), emphasizing that the company currently maintains no business connections with the payments bank entity. The digital payments platform has also confirmed that its financial exposure to PPBL has been appropriately accounted for in its books.

Investment Write-Down Confirmation

The company has disclosed that its investment in PPBL made during 2024 has already been written down in its financial records. This accounting treatment indicates that Paytm has recognized the diminished value of its investment in the payments bank, reflecting a conservative approach to its financial reporting.

Current Business Relationship Status

Paytm's statement explicitly clarifies that there are no ongoing business links between the company and PPBL. This clarification comes as the company seeks to provide transparency regarding its operational relationships and financial commitments with related entities.

The write-down of the 2024 investment suggests that Paytm has taken appropriate measures to reflect the current value of its stake in PPBL, ensuring that its financial statements accurately represent the company's asset position and investment portfolio.