Manju Agarwal, an independent director at Paytm Payments Bank Limited (PPBL) has resigned, according to a regulatory filing by Paytm. The company stated that her departure was due to personal commitments.
“We hereby submit that our associate entity, PPBL, has informed us that Manju Agarwal, Independent Director, resigned from its Board on February 1, 2024, due to her personal commitments which was noted by PPBL board on February 6, 2024,” the financial technology company said in its filing.
The company added: “We hereby submit that PPBL is our associate entity and this event (the resignation) is not deemed material for the company and does not impact our operations/business, as per the provisions of SEBI’s Regulation 30.”
On February 9, a three-person advisory council was established by the payments company, which is run by businessman Vijay Shekhar Sharma, to provide guidance to PPBL regarding regulations and compliance. M Damodaran, the former chairman of the Securities and Exchange Board of India (SEBI), is in charge of the committee, which also includes R Ramachandran, the former MD and chairman of Andhra Bank, and MM Chitale, the former president of the Institute of Chartered Accountants of India (ICAI).
