Neeraj Arora Resigns As Paytm’s Independent Director

In his resignation letter, Neeraj Arora cited his pre-occupation and other personal commitments as the reason behind his resignation

Paytm has appointed ex-SEBI whole time member Rajeev Krishnamuralilal Agarwal as the replacement for Arora

Agarwal has been appointed as the non-executive independent director for a term of five consecutive years

 The churn at Paytm continues as Neeraj Arora has now resigned as the non-executive independent director of the fintech major. 

In a filing with the BSE, the company said that Paytm’s board approved Arora’s resignation during a meeting on Monday (June 17). In his resignation letter, Arora cited his pre-occupation and other personal commitments as the reason behind his resignation. 

Meanwhile, Paytm has appointed former Securities and Exchange Board of India’s (SEBI) whole time member Rajeev Krishnamuralilal Agarwal as the replacement for Arora. 

“The Board at its meeting held today, i.e., June 17, 2024… has approved the appointment of Shri Rajeev Krishnamuralilal Agarwal as a non-executive independent director of the company with immediate effect for a term of five (5) consecutive years, subject to the approval of the members of the company,” the filing said. 

(The story will be updated soon.)