Power Finance Corporation Limited has informed the Exchange regarding Appointment of Mr Bhaskar Bhattachrya as Independent Director of the company w.e.f. May 13, 2025.
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PFC has appointed two new Part-time Non-Official Independent Directors to its Board. Shri Sudhir Mehta, an entrepreneur and Chairman & MD of Pinnacle Industries (automotive) and founder of EKA (electric vehicles), has been appointed as Independent Director for a three-year term starting May 14, 2025. He holds a Computer Science & Economics degree from DePauw University and an MBA from the University of Chicago. Separately, Shri Bhaskar Bhattachrya has also been appointed as a Part-time Non-Official Director effective May 13, 2025. Both appointments were made on the recommendation of the Ministry of Power, Government of India, under the existing Articles of Association of the company. Neither appointee has any inter-director relationship, and both have confirmed they are not debarred by SEBI or any other authority.
These are routine government-nominated board appointments at a public sector company and are unlikely to move the stock. Sudhir Mehta's background in automotive and electric vehicles may bring useful industry perspective to PFC's board as it evaluates financing opportunities in the EV and clean energy space.