
Independent Director Bimal Julka Resigns From Paytm Board; CFO Madhur Deora Also Set To Step Down
Bimal Julka, a Non-Executive Independent Director and former Bureaucrat, has resigned from Paytm’s Board.
Meanwhile, Group Chief Financial Officer Madhur Deora, who also serves as Executive Director and President, will retire from the Board at the upcoming Annual General Meeting (AGM), as he is not seeking reappointment.
Further, Urvashi Sahai has been appointed as Whole-Time Director (Additional Director) and Key Managerial Personnel of the company w.e.f. July 22, 2025, subject to the approval of the members of the company.
Julka is a retired IAS officer of the 1979 batch from the Madhya Pradesh cadre. Over a 41-year career, he held senior positions across key ministries, including Defence, Finance, Civil Aviation, Information & Broadcasting, and External Affairs. He served as Secretary, Ministry of I&B, and later as Chief Information Commissioner of India. He has also been an Independent Director at organisations such as ONGC, IDFC, Reliance Power, and NSDC. He has contributed to several critical reforms and public service initiatives. Julka holds a BA (Hons) and MA in Psychology from Delhi University and was awarded the Queen Elizabeth Fellowship at the University of Oxford for work on government interventions in the SME sector.
Deora has over 25 years of experience in the industry. Prior to Paytm, he served as Managing Director (MD) of Investment Banking at Citi (banking company) for almost 17 years. He holds a Bachelor of Science degree in Economics from Wharton School.
Sahai has been the General Counsel and Senior Vice President (VP) of Legal at Paytm since 2020. She provides strategic legal counsel to the Board and senior management across a range of matters, including corporate law, governance, dispute resolution, enforcement liaison, investments, and intellectual property. Prior to joining Paytm, she served as General Counsel and Senior VP of Legal at Walmart India, where she led legal operations during key phases of growth and transition. Earlier in her career, she worked at Amarchand Mangaldas & Suresh. She holds a B.A. (Hons) and an LLB and brings broad legal and strategic expertise to the organisation.