Paytm on June 17 introduced the appointment of Rajeev Krishnamuralilal Agarwal as a non-executive unbiased director of firm in a modern change to its board of administrators.
Agarwal’s appointment takes impact instantly, the corporate mentioned in a disclosure to the exchanges.
Moreover, the firm’s board additionally accepted the resignation of Neeraj Arora as non-executive unbiased director on account of pre-occupation and different private commitments.
Arora’s resignation will even take impact from closure of enterprise hours on June 17, the discharge added.
Agarwal, an Engineering graduate from IIT-Roorkee, belongs to 1983 batch of Indian Income Service and has bought vast expertise of securities markets, commodity markets and taxation, in keeping with an organization press launch.
Agarwal brings over 4 a long time of expertise within the inventory market, together with 28 years with the Indian Income Providers. As a whole-time member of SEBI, he was instrumental in main market coverage reforms, such because the revival package deal of MF trade in 2012, and the merger of the Ahead Markets Fee with SEBI in 2015. He additionally spearheaded a number of IPO reforms aimed toward enhancing transparency, initiated the supply on the market mechanism for PSU disinvestment and gave a lift to SME trade which broadened capital-raising alternatives for small enterprises and startups, it added.
At the moment, he’s Chairman and Impartial Director on the board of Belief Mutual Fund and Impartial Director on the boards of ACC Ltd, Star Well being Insurance coverage, UGRO Capital Ltd and MK Ventures Capital Ltd.
His huge expertise will considerably improve the compliance and regulatory framework at OCL, Paytm mentioned.
Vijay Shekhar Sharma, Founder & CEO of Paytm mentioned, “I’m very comfortable to welcome Rajeev Agarwal to the Paytm board. His experience in regulatory and government-related issues shall be a useful addition to our board. I’d additionally like to specific my gratitude to Neeraj Arora for his vital contributions, which have been instrumental in our firm’s evolution. We stay dedicated to innovation and progress as we proceed our efforts to serve our nation with monetary inclusion.”
