Paytm shareholders reaffirm faith in Vijay Shekhar Sharma’s leadership

Majority shareholders of One 97 Communication — the parent company of digital payments app Paytm — on Friday “reposed their faith in the company’s leadership,” sources said.

Paytm held its 22nd annual general meeting (AGM), the first such meeting after it became a listed company in 2021.

The meeting had received prominence after three domestic proxy firms opposed the proposal to reappoint Vijay Shekhar Sharma as chief executive officer (CEO) of Paytm for the next five years.

However, the company has not provided any details about the shareholders’ mandate and discussions in the meeting.