Manju Agarwal has vacated her position as an independent director at Paytm Payments Bank Limited (PPBL), as revealed in a notice by Paytm to regulators.
The announcement indicated that her resignation on February 1, 2024, was prompted by personal reasons, with the board of PPBL officially noting her departure on February 6, 2024.
Paytm clarified that Agarwal’s resignation is not considered to significantly affect the company’s operations or its business, aligning with SEBI’s Regulation 30.
In a related development, Paytm established a three-member advisory panel on February 9, under the leadership of Vijay Shekhar Sharma, to advise PPBL on regulatory and compliance issues.
The panel is led by M Damodaran, a former SEBI chairman, and includes R Ramachandran and MM Chitale, who have held prominent positions in Andhra Bank and the Institute of Chartered Accountants of India (ICAI), respectively.
