Introduction:

One97 Communications Limited, the parent company of Paytm, has taken a proactive step towards enhancing compliance and regulatory adherence by establishing a group advisory committee. Led by former SEBI Chairman M. Damodaran, the committee comprises seasoned professionals dedicated to upholding regulatory standards.

1. Composition of the Committee:

• The group advisory committee is chaired by M. Damodaran, bringing extensive regulatory expertise to the table.

• Notable members include M.M. Chitale, former President of ICAI, and R. Ramachandran, former Chairman and Managing Director of Andhra Bank.

• The committee is poised to collaborate closely with the Board of One97 Communications, with the possibility of inducting additional members to bolster its expertise.

2. Focus on Regulatory Compliance:

• With a commitment to sustainable business growth, One97 Communications underscores the importance of regulatory compliance and adherence.

• The formation of the advisory committee reflects the company's proactive approach to navigating regulatory challenges and fostering a culture of compliance.

3. Strengthening Governance Practices:

• By leveraging the collective wisdom of industry veterans and regulatory stalwarts, Paytm aims to enhance its governance practices and uphold the highest standards of integrity.

• The committee's mandate includes providing strategic guidance on regulatory matters and recommending measures to reinforce compliance frameworks.

4. Upholding Investor Confidence:

• Paytm's initiative to fortify compliance mechanisms and governance structures is essential for maintaining investor confidence and safeguarding shareholder interests.

• Transparent and robust regulatory practices are fundamental in fostering trust and credibility in the company's operations.

5. Forward-looking Approach:

• As regulatory landscapes evolve, Paytm remains committed to proactively adapting to changes and proactively addressing emerging compliance challenges.

• The establishment of the advisory committee underscores Paytm's proactive stance in aligning with regulatory requirements and ensuring long-term sustainability.

Conclusion:

The formation of the group advisory committee chaired by M. Damodaran signifies Paytm's unwavering commitment to regulatory compliance and governance excellence. By assembling a team of distinguished professionals, Paytm aims to reinforce its compliance infrastructure and uphold the highest standards of regulatory integrity.