The controversial fintech platform Paytm has recently announced about the appointment of Rajeev Krishnamuralilal Agarwal as non-executive independent director of the company.  The newly appointed Agarwal will join the firm with immediate effect for a term of five consecutive years.

Rajeev was handling the operations of Indian Revenue Service (IRS) as officer and he is currently serving as independent director of companies such as U GRO Capital, Star Health, TRUST Mutual Fund and ACC Limited.

Paytm recently announced the resignation of Neeraj Arora who was working as the non-executive independent director of the firm. He is serving as the former executive of Meta-owned WhatsApp and was previously associated with Google Inc. He is the founder of Halloapp , Inc.

Arora rejoined Paytm in 2021, after quitting the position in 2018. The paytm group is undergoing through a rearrangement and shuffle for a while. Bhavesh Gupta, the chief operating officer and president of Paytm, resigned from the firm citing personal reasons.

During April, Paytm Payments Bank’s CEO and managing director Surinder Chawla resigned from the company. Nearly at the same time, Paytm’s chief marketing officer (CMO) Sumit Mathur left the company while Paytm Money’s CEO Varun Sridhar also stepped down from the executive position.

The company has recently collaborated with foodtech firm Zomato to uplift its movie and ticketing business. The report says, that, the size of deal will be anywhere from $190-210 million.

Paytm’s revenue from operations grew 25% to 9,978 crore in FY24 from 7,990 crore in FY23. The company managed to reduce its net losses by 20% to 1,422 crore in the last fiscal year while it maintained its EBITDA profitability before ESOP throughout the year which stood at 559 crore.

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