Paytm founder Vijay Shekhar Sharma will take home a remuneration of $423000 (Rs 3 crore) in this fiscal, as per regulatory filings.
The proposal pertaining to Sharma’s remuneration was approved by members of One97 Communications Ltd at their Annual General Meeting on September 30, 2019, filings with the Corporate Affairs Ministry showed.
“…consent…is hereby accorded to approve the remuneration to be paid to Mr Vijay Shekhar Sharma, Managing Director of the Company for the financial year 2019-20, as recommended by the Board and Nomination and Remuneration Committee at their meetings held on September 4, 2019…,” it added.
Apart from the $423000 remuneration, Sharma will also be entitled to perquisites that include heads like vehicles, fuel expenses, accommodation, travel expenses, amongst others.
However, the filing did not say if the compensation for e-commerce and payments bank is included.
The remuneration for Sharma stood at a similar level in the last fiscal. The company did not respond to queries.
The members also passed – via a special resolution – a proposal to expand the existing ESOP (employees stock option plan) pool to 21.66 lakh equity options of Rs 10 each from 19.23 lakh.