Paytm appoints former SEBI whole-time member Rajeev Agarwal as independent director 

One 97 Communications, which owns brand Paytm, has appointed former SEBI whole-time member Rajeev Krishnamuralilal Agarwal to the board as non-executive independent director.

R.K. Agarwal, who is a former IRS officer, has come in as a replacement for Neeraj Arora, who had resigned citing “pre-occupation and personal commitments”.

“The board, at its meeting held today, i.e., June 17, 2024, based on the recommendation of the Nomination and Remuneration Committee, 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,” One 97 Communications said in a stock exchange filing.

Consequently, Agarwal will now cease to be a member of the Nomination and Remuneration Committee and investment committee constituted by the board .

As SEBI Whole Time Member, Rajeev Agarwal had played major role in policy reforms in mutual funds in 2012 and the merger of Forward Markets Commission with SEBI in 2015.