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Two Ex-CMDs barred from holding positions in listed companies; Mishra to step down

By IndianMandarins- 12 Jun 2024
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New Delhi (12.06.2024): Following the investigation into corporate governance lapses by SEBI, Rajib Kumar Mishra, CMD, PTC India and Director PTC India Financial Services (PFS) has been fined Rs 10 lakh. In addition, former MD and CEO of PFS Pawan Singh has also been fined Rs 25 lakh.
In addition, the SEBI also restrained them from holding any Board or key managerial position in any listed company or any registered intermediary or associating themselves with any listed entity which intends to raise money from the public. 
Following RBI directives in June 2023, Singh was forced to go on leave up to his retirement. Mishra is still non-executive chairman of PFS and the CMD of the parent company PTC India. Now, he will have to step down from these positions.

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