Punjab Communications Clarifies Delay in Management Change Disclosure
Punjab Communications Ltd clarified the delay in disclosing the appointment of Dr. Basant Garg, IAS, as Director-cum-Chairman. The company, a subsidiary of Punjab Infotech (a Punjab Government undertaking), explained that IAS officers are nominated by the Government of Punjab. The nomination letter for Dr. Garg was received on October 5, 2026, and the Board formally approved the appointment via circulation on October 12, 2026. The disclosure under Regulation 30 was subsequently filed on October 12, 2026, within 12 hours of the Board's approval. The company stated that the 12-hour disclosure window from the effective date is practically challenging for a State PSU when the event originates outside the company and requires formal Board approval, making the delay procedural and not intentional.
Key Highlights
- Punjab Communications clarified delay in disclosing Dr. Basant Garg's appointment.
- Delay attributed to procedural requirements for government-nominated directors.
- Nomination from holding company, Punjab Infotech, required Board approval.
- Disclosure filed within 12 hours of Board's formal approval on Oct 12, 2026.
- Company cites practical difficulties with 12-hour rule for external nominations.
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