What the board approved
One 97 Communications (Paytm) told the exchanges that its board, meeting on July 3, 2026, approved a set of changes at the top of the company: the appointment of two independent directors, the resignation of a Whole-time Director from the board, and the designation of three executives as additional Senior Management Personnel.
The company framed the additions as "further strengthening the Company's Board with independent directors as the Company pursues next phase of growth and higher profitability."
The two new independent directors
Narasinganallore Venkatesh Srinivasan is to join as a Non-Executive Independent Director with effect from July 5, 2026, subject to member approval at the ensuing AGM. Per the filing, he brings over four decades in finance, capital markets, banking, risk and treasury, including senior roles at IDBI and as CEO of the Association of Mutual Funds in India (AMFI).
Sachee Trivedi, Founder and Managing Partner of Trident Capital Investments, is also to join as a Non-Executive Independent Director from July 5, 2026, subject to member approval. The filing notes she has over two decades in global equities investing and regulatory advisory across the US and Europe.
Sahai's exit — from the board, not the company
The board accepted the resignation of Urvashi Sahai from the office of Whole-time Director and Key Managerial Personnel, effective close of business on July 5, 2026. In her resignation email to founder Vijay Shekhar Sharma, Sahai wrote that her resignation is "limited to my position as a Whole-time Director on the Board" and that she would continue in her existing executive capacity.
From July 6, 2026, she remains with the company as General Counsel & Senior Vice President – Legal, designated as Senior Managerial Personnel. Her membership of the Stakeholders' Relationship Committee concludes with the board exit. The filing states the change is so she can focus on her executive responsibilities.
Separately, three executives — Anuj Mittal (Investor Relations), Avijit Jain (Loan distribution) and Vikash Jalan (Consumer Payments) — were designated additional Senior Management Personnel effective July 3, 2026.