Intimation for cessation of Independent Directors on completion of tenure

Multiple Ind Directors ResignedManagement Changes View source PDF

PFC · price

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₹464.50

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₹464.85

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AI summary

Power Finance Corporation Limited has announced that two Non-Official Independent Directors, Smt. Usha Sajeev Nair and Shri Prasanna Tantri, have ceased to be directors on the Board of PFC w.e.f. 17.04.2026. Both directors were appointed on 17.04.2025 for a period of one year by the Ministry of Power, Government of India. Their cessation is due to the natural completion of their one-year tenure on 16.04.2026. This is a routine governance change as both appointments were government-nominated positions with fixed terms. The company has notified the exchanges as per SEBI Listing Regulations.

Likely market impact

The simultaneous departure of two independent directors reduces board independence and may require the company to appoint replacements to maintain compliance with corporate governance norms. This is a routine change with minimal direct impact on operations, though shareholder attention to board composition is warranted.