PTC India Faces Leadership Shake-Up: NTPC to Become Sole Promoter

PTC India received directives from the power ministry to restructure its leadership, making NTPC the sole promoter. This involves board changes, redefining top roles, and amending the Articles of Association, requiring existing promoters to reclassify themselves as non-promoters.

PTC India is poised for significant leadership changes following a directive from the Ministry of Power. The ministry's communication calls for making NTPC the sole promoter and restructuring the company's board.

The changes include the withdrawal of nominee directors from PFC, POWERGRID, and NHPC, necessitating amendments to PTC's Articles of Association.

Additionally, the roles of PTC's leadership will be split, with NTPC's CMD assuming the position of Non-Executive Chairman while PTC's CMD is redesignated as Managing Director.

(With inputs from agencies.)