PB Fintech Subsidiary Receives Order Under Prohibition of Benami Property Transactions Act
PB Fintech Limited announced that Paisabazaar Marketing and Consulting Private Limited, a wholly-owned subsidiary, has received an order under Section 26(3) of the Prohibition of Benami Property Transactions Act, 1988, from the Office of the Adjudicating Authority, Prohibition of Benami Property Transactions Act, New Delhi. The order was received on March 26, 2026, following a previous communication dated November 28, 2024.The Adjudicating Authority’s order, dated March 24, 2026, confirmed a prior order passed by the Initiating Officer under Section 24(4) of the Act dated February 27, 2025, concerning certain vendors of Paisabazaar. The order alleges Paisabazaar as a beneficial owner in respect of its transactions with these vendors.
| Detail | Information |
|---|---|
| Authority | Office of the Adjudicating Authority, Prohibition of Benami Property Transactions Act, New Delhi |
| Action/Order | Order u/s 26(3) of the Prohibition of Benami Property Transactions Act, 1988 |
| Date of Receipt | March 26, 2026 |
| Details of Alleged Violation | Allegation of Paisabazaar being a beneficial owner in respect of transactions with certain vendors. |
| Appeal Information | The order is appealable, and Paisabazaar intends to file an appeal in due course. |
| Financial Impact | Currently, there is no anticipated financial impact as the order is appealable. |
PB Fintech Limited will host the disclosure on its website at www.pbfintech.in.
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