Paytm founder gets nearly 100% votes to remain MD

[ad_1]

MUMBAI

: Around 99.7% of the shareholders of Paytm‘s parent, One97 Communications, have voted in favour of a resolution to reappoint Vijay Shekhar Sharma as MD & CEO of the company and approved his remuneration. Other resolutions, including the reappointment of Ravi Chandra Adusumalli and Madhur Deora on the board, have also been approved with an overwhelming majority of votes in favour.
Three proxy advisory firms had advised shareholders to vote against resolutions for the appointment of directors. These firms were Institutional Investor Advisory Services, Stakeholder Empowerment Services and InGovern Research. The advisories came in the wake of a 64% drop in the market price of Paytm’s shares from the IPO level during the meltdown of startup stocks early this year. Large institutional investors often take the support of advisory firms to decide which way to vote on shareholder resolutions in companies where they have a stake.
Sharma has been steadfast in his communication that, while the company cannot control the share price, business is on anticipated lines and it is on track for profitability. “Business is booming, and we are on target to achieve profitability. Our marketing and acquisition costs have dropped significantly. Our business model is very clear – to acquire payment customers and distribute loans,” said Sharma.
“We use the payment service to acquire customers and leverage the distribution of the Paytm app to grow, while we also grow our merchant network. Our user base of 75 million transacting users allows us to have a distribution and collection model that is not possible for other lenders with their current margins.”
The company has refuted charges by the advisory firms. It said that Adusumalli had nominated Vivek Mathur, operating partner at Elevation Capital, to attend meetings at short notice that he could not attend because he was in the US. “The resounding votes of almost 100% in favour of his reappointment reflects investors’ faith in the company’s leadership and shows that they remain confident about its growth and profitability target. Earlier in May 2022, the One97 Communications board had approved the reappointment of Sharma as MD,” the company said. “Additionally, Sebi, in February 2022, had made it voluntary for India Inc to have a separate chairperson and MD / CEO. In most Nifty 50 companies, the MD is appointed on a non-rotational basis,” it added.



[ad_2]

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Previous post Red Dress Fashion Show & Luncheon set Sept. 21
Next post Travel: Visit Mars by heading to Southeast Wisconsin | Lifestyles – Travel
live casinoslot gacor hari inisweet bonanzaslot olympus x1000slot server thailandslot server rusiaslot gacor hari ini server jepangslot gacor hari ini server luarspaceman slotolympus slotslot gacor hari ini server luarslot gacor hari ini server thailandslot gacor hari ini server luarslot gacor hari ini server thailandslot gacor hari ini server luarslot gacor hari ini server jepangmahjong ways 2slot gacor hari ini server luarslot gacor
slot gacor
slot gacor
slot gacor
slot gacor
slot gacor
slot gacor hari ini server luarsboku99
spesial4d
joinbet99
https://wordzilla.studio/
slot gacor
https://urigroup.vn/
https://sloaneandcoeyewear.com/
https://ogansia.kodpit.com/
https://bimbosita.net/
https://almasdarbyazd.ir/
https://bitmz.net/
slot gacor
sv388
https://zurga-nekretnine.com/
slot gacor
slot gacor
slot gacor
slot gacor
slot gacor
slot gacor
slot gacor
slot resmislot gacor hari ini server luarscatter hitam slotslot gacor hari ini server jepangslot gacor hari ini server kambojaslot gacor hari ini server jepangslot gacor
https://smkkelibang2023.snn2u.com/
https://www.erwo.hr/
situs slot resmi
sweetbonanza<ahref="https://raulanton.com/">aztecstarlightolympusslot gacor hari ini server luartoto slot
toto slot
slot server jepang
slot asia
slot gacor hari ini server luar
toto slot
slot server malaysia
slot server jepang
slot kamboja
https://senang303.id/
https://sukses303.id/
https://horus303.id/
https://locationtai.com/
https://jlbisson.com/
https://orthesesnovacorps.ca/
https://terrassementbl.com/
https://eloimorin.com/
https://portesfenetresrivesud.com/
https://aeclafontaine.ca/
https://pierreturmelconstruction.com/
https://lesjardinsdelapetiteecoledeceline.com/
https://bissoncpa.ca/
https://aubergedugeaibleu.com/
https://vsmauto.com/
https://charcuterie-pdc.com/
https://burtbrassardcpa.com/
https://soudurebertrandboucher.com/
https://pa-badung.go.id/sto/
https://certify.dld.go.th/
https://therecordmeister.com/sukses303
77rabbit
slot thailand
slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot kamboja
slot asia
slot filipina
slot jepang
slot rusia
slot malaysia
slot amerika
slot hongkong
slot singapore
slot dubai
slot korea
slot asia
slot kamboja
slot gacor
slot gacor
scatter hitam
olympus slot
slot777
slot gacor
slot gacor maxwin
slot maxwinsenang303
senang303
senang303
senang303
senang303
senang303
sukses303
sukses303
sukses303
sukses303 slot rusia
slot jepang
slot hongkong
slot malaysia
slot thailand
slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot gacor slot malaysia
slot rusia
slot jepang
slot kamboja
slot asia
slot dubai
slot server luar
slot thailand
slot amerikaslot server rusia