PFS could not hold board meeting in absence of independent directors

At present, there are three members on board of the PFC, Rajib Kumar Mishra (CMD of PTC India), Pankaj Goel (CFO PTC India) and PFS MD and CEO Pawan Singh.

New Delhi: Power solution provider PTC India arm PTC India Financial Services (PFS) board could not hold its scheduled board meeting on Saturday in the absence of all independent directors, a source said.

On Wednesday, the three independent directors -- Kamlesh Shivji Vikamsey, Santosh B Nayar and Thomas Mathew -- resigned enmasse from the board of PFS citing corporate governance issues.

The source told PTI that the PFS cannot hold board meeting in the absence of all three independent directors as per the norms of Securities and Exchange Board of India (SEBI).