One 97 Communications Limited has informed the Exchange regarding Outcome of Board Meeting held on July 22, 2025.
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Paytm's board, at its July 22, 2025 meeting, approved five key items. (1) Ms. Urvashi Sahai, currently General Counsel and SVP-Legal at Paytm (and formerly at Walmart India and Amarchand Mangaldas), was appointed as Additional Whole-time Director for a 5-year term, subject to shareholder approval. (2) Madhur Deora will step down as Executive Director at the upcoming AGM but continue as President and Group CFO, supporting the CEO on business expansion and profitability. (3) Independent Director Bimal Julka resigned effective close of business on July 22, 2025, citing interest in emerging technologies. (4) The board appointed Manorview Developers (a wholly-owned subsidiary of Adani Infrastructure & Developers) as EPC contractor for Paytm's 10-acre Noida IT/ITES project in Sector 159, with an estimated development cost of about ₹800 crore and a 60-month timeline; the prior joint development agreement with ACE Builders has been dropped. (5) Chandrasekaran Associates was appointed as Secretarial Auditor for FY 2025-26 to 2029-30, pending shareholder approval.
Top management continuity is preserved with Deora remaining as CFO and CEO focus on profitability. The ₹800 crore Adani-partnered Noida project is a significant capex commitment that could unlock long-pending real estate value, though it also raises execution and cash deployment questions. Most board changes need shareholder ratification at the upcoming AGM.