PTC India Financial Services Board Surprised By The Sudden Resignation Of Three Independent Directors

PTC India Financial Services (PFS) on Monday addressed the unexpected resignations of Independent Directors Seema Bahuguna, Naveen Bhushan Gupta, and P.V. Bharathi, whose three-year term was set to expire in November 2025.

In a regulatory filing, PFS said it was surprised by the resignations and the reasons cited in the letters, noting that none of the Directors had raised these issues with the Board or management beforehand. The company stated that the Directors had participated openly in all Board and committee meetings, expressed their views freely, and had not previously reported any impediments to discharging their duties. The management reaffirmed its commitment to governance, transparency, and ethical practices. The Directors, in their letters, noted their efforts over the past three years, including appointing a new Managing Director (MD) and filling long-vacant Board and company-level positions.