Paytm on Wednesday said its shareholders have approved the appointment of a new statutory auditor, S.R. Batliboi & Associates LLP, for five years.

S.R. Batliboi & Associates LLP has been approved as the new statutory auditor of Paytm for five years in the 23rd annual general meeting held on September 12, Paytm said in an exchange filing.

Price Waterhouse Chartered Accountants LLP has completed its term as the statutory auditor of the company at the conclusion of the AGM, the filing stated.

The company in a separate filing said that shareholders approved reappointment of Madhur Deora as Executive Director, President and Group Chief Financial Officer as well as the proposed increase in his salary.

Price Waterhouse Chartered Accountants LLP on August 7 had announced its resignation as auditor of Paytm Payments Services Limited with immediate effect.

PwC had cited the change of auditors at the holding company level and Paytm's practice to align the auditor of the holding company and subsidiaries to bring in synergies in the audit process.