The Market regulator SEBI has issued legal notices to government owned PTC India and its financial services unit PTC India Financial Services (PFS), demanding explanations of alleged corporate governance lapses. The SEBI has found preliminary evidence of alleged violations of governance and listing norms. The SEBI investigation followed allegations levelled by three independent directors of PTC India Financial Services. The three directors resigned from the board citing "instances of serious lapses in corporate governance and that the company failed to act on concerns raised by them" in a letter available via stock exchange disclosures.

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