PTC India Financial Services Limited has informed the Exchange regarding Resignation of Mrs PV Bharathi as Independent Director of the company w.e.f. September 26, 2025.
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Awaiting price reaction for this filing.
Three Independent Directors of PTC India Financial Services (PFS) — Seema Bahuguna, Naveen Bhushan Gupta, and PV Bharathi — resigned on September 26, 2025, with immediate effect, and the intimation was filed with BSE and NSE on September 28, 2025. All three, who had joined the board in November 2022, gave nearly identical reasons: an environment had been created in recent months that made it difficult for them to function in an independent and impartial manner, leaving them unable to uphold the corporate governance standards expected of an Independent Director. In their resignation emails, they noted their prior contributions, including recruiting a new MD & CEO, filling long-pending board and staff vacancies, addressing finance and audit issues, and putting internal controls and SOPs in place. The filing was made under SEBI LODR Regulation 30 read with Schedule III, signed jointly by the Company Secretary and MD & CEO.
The simultaneous exit of all three Independent Directors with explicit governance concerns is a significant red flag for shareholders and is likely to weigh on the stock in the near term. Investors should watch for further SEBI/RBI scrutiny, board reconstitution updates, and any clarification from management on the 'environment' flagged by the directors.