One 97 Communications, the parent company of Paytm, has appointed Rajeev Agarwal, a former whole-time member of SEBI, to its board as a non-executive independent director.
R.K. Agarwal, previously an IRS officer, replaces Neeraj Arora, who resigned due to other commitments.
“The board, in its meeting held on June 17, 2024, following the recommendation of the Nomination and Remuneration Committee, has approved the appointment of Shri Rajeev Krishnamuralilal Agarwal as a non-executive independent director of the company with immediate effect for a term of five consecutive years,” stated One 97 Communications in a filing with the stock exchange.
As a result of this appointment, Agarwal will no longer serve on the Nomination and Remuneration Committee and the investment committee formed by the board.
During his tenure as SEBI Whole Time Member, Rajeev Agarwal played a significant role in shaping policy reforms for mutual funds in 2012 and overseeing the merger of Forward Markets Commission with SEBI in 2015.
