PTC India Financial Services Limited announced that the appointment of Dr. Rajib Kumar Mishra as a Non-Executive Director of the Company. Dr. Rajib Kumar Mishra is the Nominee Director of PTC India Limited (Promoter Company) on the Board of the company. Dr. Mishra is Director (Marketing and Business Development) with Additional Charge of CMD of PTC India Limited.

Prior to this, he has worked as Executive Director PTC since October 2011 and was responsible for Operations, Business Development, Retail & Advisory Services. Dr. Mishra played a key role in starting of PTC retail business to meet power requirements of business entity. He has professional experience of 30 years with PowerGrid, NTPC and PTC India.

Before joining PTC, he was General Manager (CMG) with POWERGRID. Dr.Mishra also worked as Project Manager in SCADA /EMS projects in Regional Load Dispatch Centre of POWERGRID for seven years. He has also served NTPC and POWERGRID in various capacities.

He has played significant role in turning around loss making Telecom SBU of POWERGRID during his tenure as DGM /AGM (Marketing) in 2006-07. Dr. Mishra is PhD (Business Admin.) from Aligarh Muslim University. He was accorded Visiting Scholar status by University of Texas, Austin in 2008 for his Post-doctoral research.

He Graduated in Electrical Engineering from NIT, Durgapur and did his Post Graduation from NTNU, Norway under NORAD Fellowship. He has authored four published Books and twenty-four technical and Management papers. The company announced that the appointment of Mr. Pankaj Goel as a Non-Executive Director of the Company.

Sh. Pankaj Goel is an alumnus of SRCC and a qualified Chartered Accountant & Cost Accountant. He is nominee director on PFS' Board since November 2021 and has no role in daily operations of the Company (PFS).

Being a Nominee Director, his sitting fees has been paid to promoter company (no sitting fees paid to him). He is having outstanding credentials and has played an instrumental role in finalization of financial results for fiscal year 2022, first quarter of fiscal year 2023 and second quarter of fiscal year 2023 by Board where, with his outstanding knowledge and intellect, he contributed a lot for having considered decisions to protect the interest of shareholders including minority shareholders. He is a man of integrity and wisdom, and his presence on Board will help in being benefitted with his knowledge, intellect and decades of diversified experience.

The company also announced that appointment of Mr. Naveen Bhushan Gupta, as an Independent Director. Sh. Naveen Bhushan Gupta is a Chartered Accountant.

He has vast experience in accounting, finance, resource mobilizing etc. He has served as Director Finance of India's Largest Maharatna NBFC - Power Finance Corporation Limited (PFC). His association would be of immense benefit to the Company.

The advisory issued to reject his appointment is not in consonance with the provisions under Regulation 16(1)(b)(vi) of SEBI (LODR) Regulations, 2015 and is incorrect and misleading since in his earlier role, he was a Nominee Director on the Board of PTC India Limited and not PFS, which is a separate legal entity. He has been appointed as Independent Director for the first time in PFS.