SEBI asks PFS to resolve issues related to corporate governance before board meeting

Jan 24 (PTI) The Securities and Exchange Board of India (SEBI) has asked PTC India Financial Services (PFS) to address the corporate governance issues raised by its former chairman and outgoing independent directors before convening a board meeting. Is.
The company told the stock exchanges that the capital markets regulator has asked PFS to file an action taken report on these issues within four weeks.

Earlier, the scheduled meeting of the board of PFS, a subsidiary of power solutions firm PTC India, could not be held on Saturday due to the absence of all independent directors. After this, now the company needs to get the permission of SEBI to hold its board meeting.

In an unusual development, all three independent directors of PTC India Financial Services (PFS) – Kamlesh Shivaji Vikamsey, Santosh B Nair and Thomas Mathew T – resigned from their positions on Wednesday on grounds of corporate governance issues in the company. Was.

PTC India Chairman and Managing Director Rajiv K Mishra had said on Friday that there will be an impartial probe into the alleged corporate governance issues in the company’s subsidiary PFS.