IIAS against reappointing Vijay Shekhar Sharma as Paytm CEO

MUMBAI: Institutional Investor Advisory Services (IIAS), a proxy advisory firm that provides suggestions to funds on how to vote for corporate actions, has advised shareholders against supporting Paytm’s parent company’s resolution seeking the reappointment of Vijay Shekhar Sharma as MD & CEO.
IIAS has also advised against voting for the reappointment of Ravi Chandra Adusumalli as director.
The AGM of One97 Communications (Paytm’s parent) will be held on August 19. Besides the appointment of Sharma and Adusumalli, shareholders will vote on the adoption of financial statements, appointment of Madhur Deora as whole-time director designated as executive director, president & group chief financial officer for five years and on his remuneration. There is also a resolution to approve contributions to charitable trusts and other funds of up to Rs 10 crore per annum for three years….

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