Two more proxy firms for Vijay Shekhar Sharma's ouster as Paytm CEO

Meanwhile, SES has an issue with Sharma holding the position of chairman as well as MD and his "excessive" remuneration

All three domestic voting advisory firms are opposing a resolution floated by Paytm to reappoint Vijay Shekhar Sharma as its CEO and MD of Paytm.

Institutional Investor Advisory Services (IiAS), Stakeholders Empowerment Services (SES) and InGovern Research Services are all recommending that public shareholders of the payments major defeat the resolution.

However, the reasons cited by them for Sharma’s ouster are different.

The main bone of contention for InGovern is that Sharma is not liable to retire by rotation as director and not so much around the stock price decline.

“Sharma is not liable to retire as director by rotation, that’s