NEW DELHI: PwC has resigned as the auditor of Paytm Payments Services (PPSL), a subsidiary of fintech major Paytm with effect from August 7. The company has appointed S R Batliboi & Associates as its new auditor, One 97 Communications, which owns Paytm, said in a stock exchange filing on Monday.

In its resignation letter to the board of directors of Paytm Payments Services dated August 7, PwC said that there has been a change of auditors at the holding company level.
“Consequently, keeping in mind your understandable practice to align the auditors of PPSL, being a material subsidiary, with the auditor of the holding company in order to bring in synergies and maintain consistency in the audit process of the group, we hereby tender our resignation as the statutory auditors of PPSL,” PwC said.