PFS Chairman steps down

New Delhi: PTC India Financial Services Ltd (PFS) on Thursday said that Rajib Kumar Mishra ceased to be the company’s chairman following the order passed by markets regulator Sebi that restrained him from holding the director’s post for six months.

Mishra held office in PFS in the capacity of chairman, non-executive director. “Pursuant to ...regulatory order issued by Sebi, Rajib Kumar Mishra, ceases to be the chairman, non-executive director of the company with effect from the date of issue of the said order i.e. June 12, 2024,” PFS said in a regulatory filing to the stock exchanges.

PFS, promoted by PTC India Ltd, is a non-deposit taking NBFC classified as an infrastructure finance company. On Wednesday, the regulator has prohibited Mishra from “holding any position of director or key managerial personnel in any listed company or any intermediary registered with Sebi or associating himself with any listed public company or a public company which intends to raise money from the public or any intermediary registered with Sebi, in any capacity, for a period of six months” for corporate governance lapses at PFS.