Board Meeting3 Mar 2026, 03:42 pm
NHPC Withdraws Nomination of Rajneesh Agarwal from PTC India Ltd Board
AI Summary
PTC India Ltd has announced that Sh. Rajneesh Agarwal has ceased to be director of the company w.e.f. 2nd March 2026. This is following the withdrawal of his nomination by NHPC Ltd, the nominating company, in accordance with the SEBI Listing Regulations. The decision comes in compliance with the Ministry of Power's Office Memorandum dated 16th January 2026, which states that NTPC shall be the sole promoter of PTC, leading to other promoters, including NHPC, withdrawing their nominee directors and relinquishing their promoter's rights. PTC India Ltd will amend its Articles of Association accordingly and re-classify NHPC Limited from the 'Promoter' to the 'Non-Promoter' category.
Key Highlights
- NHPC withdraws nomination of Rajneesh Agarwal from PTC India Ltd Board.
- Rajneesh Agarwal ceases to be director of PTC India Ltd w.e.f. 2nd March 2026.
- Ministry of Power's directive leading to withdrawal of nominations and relinquishment of promoter's rights.
- PTC India Ltd to amend its Articles of Association.
- NHPC Limited to be re-classified from 'Promoter' to 'Non-Promoter' category.