Power Finance Corporation Limited has informed the Exchange regarding Appointment of Mr Sudhir Mehta as Independent Director of the company w.e.f. May 14, 2025.
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Power Finance Corporation Limited (PFC), a Government of India undertaking, has appointed two Part-time Non-Official Independent Directors to its Board. Shri Sudhir Mehta has been appointed w.e.f. May 14, 2025, for a period of three years based on a Ministry of Power order. Shri Bhaskar Bhattacharya has been appointed w.e.f. May 13, 2025. Sudhir Mehta is a serial entrepreneur and Chairman & Managing Director of Pinnacle Industries, and Founder & Chairman of EKA, a commercial electric vehicles company. He holds an MBA from the University of Chicago and has been a past Chairman of CII Western Region. Both appointments were made via Government of India orders, and neither director is debarred from holding office by SEBI or any other authority.
Strengthens PFC's board with experienced independent directors from the private sector. The appointment of a leader from the EV/automotive space could bring strategic industry perspective, though these are non-executive government-nominated roles with no immediate operational impact on the stock.