Legal counsel | Paytm
Palak Pathak
Legal counsel | Paytm
Could you share an example of a time when you came up with an innovation that improved how your legal team works and did not come at a large expense?
Over the years, I have striven to improve the efficiency and quality of assignments handled by my team by advocating new techniques and technologies. Recently, in my current tenure, I collaborated with tech teams, to help reduce the clerical and redundant legal tasks. This initiative has benefited my company economically and reduce TAT for our legal team. I advised in house technical team vis the recent legal compliance requirements, helping reduce dependency on the third party products and reliance on in-house products. This helped in reducing our legal costs by 1/8th whilst being legally compliant and comparatively end user friendly and efficient.
What are the most significant cases or transactions that your legal team has recently been involved in?
With over 500 agreements vetted, negotiated and/or drafted in last year, I ensured that the national and international agreements are executed safeguarding the company’s interest. In my previous tenure, as the first legal personnel hired for a unicorn Fintech startup, I drafted, structured and organised processes to ensure timely closure of all sort of contracts inter alia Service Agreements, Software License Agreement, Payment related Agreements, Software Procurement Agreement, Non-Disclosure Agreement, Letter of Intent, Memorandum of Understanding, Data Processing Agreement, Referral Agreement, Influencers and Social Media related Agreements, amongst others. In my independent capacity I helped create the legal ecosystem of the aforementioned Fintech startup from the ground up.
In my new role, I am assigned as legal counsel in one of the premier unicorn Fintech company in India which introduced digital payment ecosystem in the country. Some of my significant transactions in last couple of years are as under:
Key important transactions dealt drafting and negotiating complex tripartite agreements amongst government bodies, payment aggregator and payment gateway. The complexity and challenges included ensuring coherent synergies between Parties whilst ensuring data privacy compliance and adhering with the guidelines issued by Reserve Bank of India, National Payment Corporation of India and other statutory bodies and technical hurdles of the technology companies.
Regarding negotiation skills, more than 95% of the times, our partners agreed to execute the contract on the terms negotiated by me. Further engagement with various marketing agencies for advertising during the tournaments which included TV commercials and in-match marketing strategies ensuring compliances with regulatory policies.
Lastly, I was responsible for ensuring swift closure of technology sharing agreements with market innovators contributing in my workplace being a market leader in Fintech industry.
What is a cause, business related or otherwise, that you care about, and why?
I am actively involved in ensuring financial literacy among under privileged communities. One of the primary reasons why the under privileged sections are unable to ride the bandwagon of economic growth in this digital India era is due to their technological handicap. I actively educate the women on how to ensure financial stability through the means of the government programs via our digital transformation initiatives. I firmly believe if the women are financially aware, they can ensure financially strong families, which is why I firmly care about this cause.