Vijay Shekhar Sharma is the present Chairperson, Managing Director and CEO, as a director, he is not liable to retire by rotation, and he has the right to a board seat for as long as he holds an executive capacity (Exhibit 3). He has remained central to the various shareholders’ agreements since the time the company embarked on its current journey. He owns 51% of PayTM Bank, the payment bank in which PayTM holds 49%, through which PayTM offers banking services, wallet, net banking and other financial related products and services to its customers. Even in the current transaction, Antfin preferred to gift its votes to Vijay Shekhar Sharma, over a market sale of its shares.
It is time Vijay Shekhar Sharma formally signals that he remains in control. He needs to give investors the comfort that he is the promoter and not someone who is sitting in the shadows. Afterall, Vijay Shekhar Sharma is the glue that continues to hold the company together. If this is not control, then what is?
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