PTC India Financial Services Limited has informed the Exchange regarding Resignation of Mrs Seema Bahuguna as Independent Director of the company w.e.f. September 26, 2025.
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Three Independent Directors of PTC India Financial Services Limited — Seema Bahuguna, Naveen Bhushan Gupta, and PV Bharathi — resigned on September 26, 2025, with effect from the same day. All three joined the board in November 2022 and, in nearly identical resignation letters, cited that 'an environment has been created in the company which has made it difficult to function in an independent and impartial manner' and that they felt 'constrained in upholding the highest standards of corporate governance.' They also highlighted that during their tenure, they had helped address earlier governance and finance/audit issues, filled long-pending board and management vacancies (including recruiting a new MD & CEO), and strengthened internal controls and compliance. The company disclosed the detailed resignation emails to the stock exchanges on September 28, 2025, under SEBI Listing Regulations.
This is a serious governance red flag — three independent directors exiting on the same day with identical concerns about board independence and the management environment is likely to dent investor confidence, put the stock under pressure, and invite sharper scrutiny from regulators and proxy advisors.