Paytm shareholders concur with the appointment of new statutory auditor SR Batliboi

Paytm, a provider of digital payment services, announced on Wednesday that its shareholders had approved the nomination of S.R. Batliboi & Associates LLP as a new statutory auditor for a period of five years.

The 23rd annual general meeting, which was conducted on September 12th, approved S.R. Batliboi & Associates LLP as the company's new statutory auditor for a period of five years, Paytm reported in an exchange filing.

At the completion of the AGM, Price Waterhouse Chartered Accountants LLP's tenure as the company's statutory auditor came to an end, according to the filing.

In a separate filing, the business stated that the proposed rise in Madhur Deora's pay as well as his reappointment as Executive Director, President, and Group Chief Financial Officer were approved by shareholders.

On August 7, Price Waterhouse Chartered Accountants LLP declared its immediate resignation from the position of auditor of Paytm Payments Services Limited.

PwC has mentioned Paytm's practise of aligning the auditor of the holding company and subsidiaries to bring in synergies in the audit process as well as the change of auditors at the holding company level.