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Neeraj Arora quits Paytm board; firm onboards ex-Sebi official

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Paytm has onboarded former whole-time director of market regulator Sebi Rajeev Krishnamuralilal Agarwal as an independent director for five years

New Delhi: Former chief business officer of WhatsApp Neeraj Arora has quit the board of the fintech firm One97 Communications, owner of Paytm brand, citing pre-occupation and personal commitments, a regulatory filing said on Monday.

Arora had quit the Paytm board earlier in early 2018 but rejoined it before the company’s IPO.

“The Board, at its meeting held today i.e., June 17, 2024, took note of the resignation tendered by Shri Neeraj Arora, Non-Executive Independent Director of the Company on account of pre-occupation and other personal commitments. He will accordingly cease to be a Non-Executive Independent Director, with effect from the closure of business hours on June 17, 2024,” Paytm said in the regulatory filing.

Arora was a key figure in negotiating the WhatsApp merger deal with social media major Facebook.

He has co-founded his own social networking Hallo App and a venture capital firm Venture Highway.

Paytm has onboarded former whole-time director of market regulator SEBI Rajeev Krishnamuralilal Agarwal as an independent director for five years.

According to the filing, Agarwal, during his tenure on the Board of SEBI, supervised and handled the policy of important equity, departments dealing with markets bonds, currency and commodities, mutual funds, foreign investors, international affairs, and corporate governance, among others.

“He was responsible for the revival package of the Mutual Fund Industry in 2012,” the filing said.

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