PTC India Financial Services Limited has informed the Exchange regarding Resignation of Mr Naveen Bhushan Gupta as Independent Director of the company w.e.f. September 26, 2025.
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Three Independent Directors — Seema Bahuguna, Naveen Bhushan Gupta, and PV Bharathi — have resigned from the board of PTC India Financial Services Limited with effect from September 26, 2025. All three, who joined the board in November 2022, cited nearly identical reasons: an environment created in the company over recent months that made it difficult for them to function independently and impartially, leaving them constrained in upholding corporate governance standards. In their resignation emails, the directors noted that they had previously helped address legacy governance, finance, and audit issues, and had overseen the recruitment of a new MD&CEO. The company, a subsidiary of PTC India Limited, has submitted copies of the resignation letters along with reasons to the stock exchanges as required under SEBI Listing Regulations.
The simultaneous exit of all three Independent Directors — the entire independent oversight of the board — over governance concerns is a significant red flag for shareholders. This may weaken board independence, invite regulatory scrutiny, and put short-term pressure on the stock price.