One 97 Communications Limited announced that Mr. Ashit Ranjit Lilani, Non-Executive Independent Director (DIN: 00766821), withdrew his consent for the proposed re-appointment for a second consecutive term of five years with effect from July 05, 2026, due to other professional commitments undertaken subsequent to the Board approval. Mr. Lilani confirmed that the withdrawal of consent is not due to any other material reasons. Accordingly, his current five year term as Non-Executive Independent Director will conclude on July 04, 2026, from the close of business hours, and he will cease to be a Director thereafter.
Consequently, he will also cease as chairperson of the Nomination and Remuneration Committee and Stakeholders? Relationship Committee, and as a member of the Audit Committee and Investment Committee. The Board noted the same by resolution passed through circulation on June 04, 2026.
One 97 Communications Limited is an India-based company, which owns the brand Paytm. The Company is engaged in the business of providing payment and financial services, which includes payment facilitator services, facilitation of consumer and merchant loan distribution to consumers and merchants, wealth management, and others. Its services include digital recharge, bill payments, such as utility bills, education and money transfers on the app, online payment gateways as well as offline payment modes to merchants either through Quick Response (QR) codes, Soundbox or Card Machines. It also offers digital distribution of credit, insurance, mutual funds distribution and equity broking. Its other services include deals and gift vouchers, advertising services and loyalty programs for merchants. Its offerings cater to a range of customer requirements, facilitating money transfers, merchant payments, bill payments, e-commerce transactions, and access to other financial services.
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