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Pallavi Shroff independent directorship tally rises to 5 with Paytm

Shardul Amarchand Mangaldas managing partner Pallavi Shroff is set to join India's largest e-payments brand Paytm as a director, reported Business World.

She is already also on the board of directors of Maruti Suzuki India, Apollo Tyres, Trident Group, and Juniper Hotels according to the report. The SEBI caps the number of company boards an individual can be a director on at 7.

Other members on Paytm's board of directors: SoftBank Capital managing partner Kabir Misra, Alibaba group vice chairman Joe Tsai, former Google executive Amit Singhal, Goldman Sachs Group vice chairman Mark Schwartz, Ravi Adusumalli of SAIF Partners and Ant Financial CEO Eric Jing.

A SEBI appointed panel comprising Cyril Amarchand Mangaldas managing partner Cyril Shroff and AZB & Partners co-founding partner Zia Mody, among others, is currently examining conflict issues that arise from a lawyer-director's law firm advising the same company on the board of which that lawyer is a director, The Hindu had reported last year.

According to that report:

  • SAM executive chairman Shardul Shroff is a director in three companies
  • J Sagar Associates (JSA) founder Berjis Desai is a non-executive director on the boards of six companies, including Adani Enterprises, Edelweiss Financial Services, Praj Industries and Jubilant Foodworks
  • Crawford Bayley senior partner Rajendra Shah is part of the boards of nine companies including Bombay Dyeing, Pfizer, Lupin, Colgate Palmolive (India) and Deepak Fertilisers
  • Former SAM partner Shuva Mandal is on the board of AGC Networks
  • Khaitan & Co managing partner Haigreve Khaitan is on the board of directors of six companies

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