Surprise Resignation Wave: Corporate Governance Under Scrutiny at PTC India Financial Services
PTC India Financial Services expressed surprise at the sudden resignation of three independent directors before their terms expired. This has sparked concerns about corporate governance. The company emphasized its commitment to maintaining governance standards and stated that there were no prior complaints from the directors about undisclosed issues.
- Country:
- India
PTC India Financial Services (PFS) faced an unexpected leadership shake-up on Monday as three independent directors resigned suddenly, raising concerns over corporate governance at the firm.
The directors in question, Seema Bahuguna, Naveen Bhushan Gupta, and PV Bharathi, stepped down before completing their three-year terms, citing reasons not previously discussed with the Board or management.
The development has surprised the company, especially given the directors' previously active and unrestricted participation in board meetings. PFS remains committed to governance and ethical transparency to meet stakeholder expectations.
(With inputs from agencies.)
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