Paytm group Chief Financial Officer and President Madhur Deora in response to a question on the status of Raheja QBE transaction said there is no official or unofficial rejection of the company’s application to acquire the insurance firm, according to a source who attended the call
New Delhi:
Digital payments and financial firm Paytm is in discussion with insurance regulator Irdai for approval to the Raheja QBE deal and the company has received no adverse indication from Irdai on the transaction, a senior company official said during the company’s investors call on Saturday.
Paytm in July 2020 had announced that the company along with its founder Vijay Shekhar Sharma will acquire Mumbai-based private sector general insurance company Raheja QBE.
Paytm group Chief Financial Officer and President Madhur Deora in response to a question on the status of Raheja QBE transaction said there is no official or unofficial rejection of the company’s application to acquire the insurance firm, according to a source who attended the call.
He said there are ongoing discussions with Irdai about closing that transaction and there has been no ”official, unofficial, verbal or informal or any indication” from the insurance regulator that they are seeking to reject that acquisition.
PTI