Paytm issue may be reviewed, scrutiny on Byju's progressing well: ICAI

economictimes.indiatimes.com:

Paytm Payments Bank Ltd crisis, Institute of Chartered Accountants of India President Ranjeet Kumar Agarwal on Sunday said its financial reporting review board (FRRB) may deliberate on issues of the fintech firm in the near future. The FRRB of the statutory body is currently conducting a review of the accounts of tech-based education unicorn Byju's over alleged governance concerns, and the exercise is progressing well, the ICAI president said.
«So far, we have not considered it (Paytm issue), but the board meeting of the FRRB will take place in the near future and it will consider appropriate action if required. So far, we have not decided anything as far as this matter is concerned,» ICAI President Ranjeet Kumar Agarwal told PTI in an interview.

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Newly elected committees, including FRRB, of the ICAI are expected to hold meetings from March onwards, he said.

Notably, the banking sector regulator Reserve Bank of India has already imposed restrictions on Paytm Payments Bank Ltd due to alleged regulatory concerns.
The FRRB may determine whether any scrutiny of the books is necessary over allegations of regulatory lapses and their impact on the payment bank's accounting, he said.
«It is the discretion of the board whom to