Paytm proposes salary cut for board members

Paytm has proposed to cut remuneration for board members, cap the annual compensation at Rs 48 lakh with a fixed component of Rs 20 lakh. The decision has come ahead of its annual general meeting scheduled on September 12. The new proposed remuneration framework will be subject to shareholder approval.

Previously, the annual salaries of non-executive independent directors of Paytm’s board members, including Ashit Ranjit Lilani was set at Rs 1.65 crore, while that of Gopalasamudram Srinivasaraghavan Sundararajan was set at Rs 2.07 crore. With the revised structure, the annual compensation of each non-executive independent director will be capped at Rs 48 lakh, with a fixed component of Rs 20 lakh.