Paytm’s Company Secretary and Compliance Officer Amit Khera has abdicated from his post, the NSE-listed company announced in its exchange forms. Sonali Singh will be stepping in as the Interim Compliance Officer as they look for a person for this part, Paytm’s parent company One 97 Dispatches said in a statement. “In the interim periodMs. Sonali Singh, has been appointed as an Interim Compliance Officer of the Company for monitoring and icing compliance of securities laws, requital Investor grievances and any other affiliated conditioning,” the statement read.
Singh is a Company Secretary with over 13 years of experience. Prior to joining Paytm, the Law graduate was working with the State Bank of India (SBI). She has also worked with InterGlobe Aviation Limited, popularly known as IndiGo where she spent close to eight times. Khera is also a Law graduate from Delhi University. Before Paytm, he has worked with presto moving consumer goods company Del Monte and telecom major Bharti Airtel Limited in the legal and secretarial perpendicular. Khera’s last day is on March 14, 2023. Singh will be stepping into the new part from March 15. Paytm stock jumped over 4 per cent to hit a day’s high of Rs 628.75, while shares of Zomato were down a little over 2 per cent to hit a day’s low of Rs 53.41 in late- morning deals.
In its nonsupervisory form, Paytm said that the interim compliance officer is a Company Secretary with further than 13 times of experience under her belt. Prior to joining Paytm, Singh also worked with the government-owned State Bank of India (SBI) and aeronautics major IndiGo. This comes weeks after Chinese internet major Ant Group’s elderly vice chairman Douglas Feagin resigned as a non-executive, non-independent director of Paytm. As per reports, Paytm’s investors SoftBank and Ant Group are looking at trimming their stakes in the company for reasons ranging from nonsupervisory compliance to padding their losses. Still, the fintech mammoth said it isn’t apprehensive of any similar development. Paytm trimmed its Q3 FY23 loss 50 YoYto INR 392.1 Cr while it also achieved its target of EBITDA profitability, without ESOP cost, in the same quarter.