New Delhi, Jul 22 (PTI) Paytm owner One97 Communications' Group Chief Financial Officer (CFO) Madhur Deora will step down from the board as he is not seeking reappointment, according to a regulatory filing.

Former bureaucrat Bimal Julka, a non-executive independent director of Paytm, has resigned from the board, according to the filing.

Also Read | ITR E-Filing 2025: From Last Date To Submit Income Tax Return to Steps To File ITR Online and Documents Required, Here's Everything You Need To Know.

"Madhur Deora, Executive Director, President and Group CFO, being a director liable to retire by rotation at the ensuing Annual General Meeting (AGM), is not seeking reappointment at the ensuing AGM," the filing said.

Deora will continue in his full-time role as President and Group Chief Financial Officer of Paytm and will also support the CEO in expanding the business & strengthening profitability.

Also Read | National Flag Day 2025: What Do Saffron, White and Green Colours Represent in Tiranga? What Does Blue Ashoka Chakra Mean?.

"I have been on the board for about two-and-a-half, three years. There was never the intention that this should be a permanent thing. We wanted one executive director on the board, so I did a term. Now our general counsel is being nominated for this," Deora said.

Paytm's general counsel Urvashi Sahai will be appointed as an additional director in the capacity of Whole-time Director and designated as key managerial personnel of the company for a term of five years.

"On a personal level, I have been very much looking forward over the last two or three years to drive some business priorities for the company. But quite frankly, we did not have the bandwidth with everything else that was going on. I am really looking forward to going back and driving certain big business initiatives and we just need to free up bandwidth for that," Deora said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)