Rajib Kumar Mishra Removed From Top Position After Sebi Order

Rajib Kumar Mishra, the chairman of PTC India Financial Services Ltd, has been removed from his post following an order from Sebi. The markets regulator prohibited him from holding any directorial position for six months due to corporate governance lapses, also imposing a fine of Rs 10 lakh.

Rajib Kumar Mishra, the now-former chairman of PTC India Financial Services Ltd (PFS), has been ousted following an order by the markets regulator, Sebi. According to an official announcement on Thursday, Mishra is barred from holding any directorial position for the next six months.

PTC India Financial Services Ltd (PFS), promoted by PTC India Ltd, is a non-deposit-taking NBFC classified as an infrastructure finance firm. Mishra, prior to the enforcement of Sebi's order, held dual roles as PFS's chairman and non-executive director in addition to being Chairman & Managing Director of PTC India Ltd.

The order, effective from June 12, 2024, also includes a fine of Rs 10 lakh on Mishra for lapses in corporate governance. Additionally, Sebi's order mentions prohibitions on Mishra's erstwhile counterpart, former MD and CEO Pawan Singh, who has been banned from holding directorial positions for two years and fined Rs 25 lakh.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)