Independent directors of PTC Financial Services (PFS) resign over corporate governance issues
Independent Directors of PFS has red flag the governance loopholes in the management of company and have resigned while highlighting this lack of adherence to Corporate Governance norms as stipulated in the Companies Act and SEBI LODR Regulations. These directors claimed that the company ignored communication from independent directors, including emails seeking board and committee meetings among other allegations. PFS is registered as a systemically important non-banking financial company (NBFC) and considering the importance of matter, SEBI has asked PFS to address corporate governance and other issues rasied by its outgoing Independent Directors, before holding its board meeting and have also asked PFS to file an Action Taken Report on these issues within four weeks.
