The founder of the Paytm billionaire faced an important test of investor trust on Friday, when shareholders would decide whether they wanted it at the top of the leader of the Pioneer Fintech who made one of the worst debuts in Indian history.
The role of Vijay Shekhar Sharma as the Chief Executive Officer is one of the things that will be chosen at the annual general meeting of the company held almost this afternoon. Last week’s proxy advisory company recommended that shareholders replace the founder as CEO, quoting concerns about their ability to reverse losses at the payment provider.

Paytm, a boy poster for Indian technology startup, has lost more than 60% of its value since the first public offering which is famous in November because it has struggled to convince investors about their potential income. In an interview last month, Sharma, 44, said PayTM would be India’s first internet company which reached $ 1 billion in annual income and promised a shift from growth to profitability.

Shareholders must vote against Sharma’s re -appointment, and the council must bring a professional to that role, said Institutional Investor Advisory Services India Ltd. said last week. Before stating, Sharma, in some cases, openly talked about companies that changed profitable, but that had not yet happened even at the operational level, the company said.

Paytm, registered at Bourses as one 97 Communications Ltd., Counts Ant Group Co. (Netherlands) who holds BV., Softbank Group Corp and Canadian Pension Investment Board among its top shareholders. From a dozen analysts that include the company, six have a ranking of buying, while three each recommended hold and selling in stocks.