Shareholders of One97 Communications, which operates under the Paytm brand, have approved the reappointment of Vijay Shekhar Sharma as managing director and chief executive officer of the company, according to the scrutinizer report filed by the firm on Sunday.
Investors advisory firm IiAS had recommended against the reappointment of Sharma and several other resolutions that were part of the agenda of the 22nd Annual General Meeting held on Friday.
IiAS had said Sharma made several commitments in the past to make the company profitable, however, these have not played out.
According to the scrutinizer report, 99.67 per cent votes were in favour of Sharma’s reappointment while only 0.33 per cent voted against the resolution.
While shareholders approved the remuneration of Sharma as well as that of Paytm President and Group chief financial officer Madhur Deora but the support was not similar to the level seen for their…