Photo: BloombergNew Delhi: One 97 Communications, the entity that runs financial services platform Paytm, has appointed SoftBank’s Kabir Misra as a director on its board, according to the company’s regulatory filings. As per the filing to the corporate affairs ministry, Misra was appointed as an additional director in a resolution passed at the company’s board meeting on 7 November. “...Kabir Misra is hereby appointed as an additional director on the board with immediate effect to hold the office as director of the company till the ensuing annual general meeting of the company,” it said. The move comes after Japanese conglomerate SoftBank pumped in $1.4 billion (over Rs9,079 crore) in Paytm in May this year. At that time, the investment in Paytm was Softbank’s largest investment in a single company in India.

Source: Mint December 05, 2017 15:45 UTC