PwC has resigned as auditor of Paytm Payment Services (PPSL), a subsidiary of fintech major Paytm, effective August 7. The company has appointed SR Batliboi & Associates as its new auditor, Paytm owner One 97 Communications said in a note to the stock exchange filing on Monday.
In its resignation letter to the board of directors of Paytm Payment Services dated August 7, PwC said there has been a change in auditors at the holding company level.
“Consequently, keeping in mind your understandable practice of combining the auditors of PPSL with the auditors of the holding company as a material subsidiary, in order to coordinate and maintain continuity in the group’s audit process, we are resigning our position as statutory auditors of PPSL,” PwC said.
