PTC group case: IiAS asks investors to vote out Mishra, Singh over mismanagement, governance issues

From Left, Rajib K Mishra, interim chairman and MD, PTC India; Pawan Singh, MD and CEO, PFS.

Synopsis
Rajib Mishra and Pawan Singh are senior leaders of the PTC group companies where instances of mismanagement and governance have been highlighted in the past. E-voting is currently on for shareholders of PTC group companies for which proxy advisory firm IiAS has put out several recommendations that includes voting out Mishra and Singh.

After independent directors, forensic auditors, statutory auditors and journalists, it is now the turn of proxy advisory firms to call out the break-down of corporate governance in PTC India and its subsidiary PTC India Financial Services (PFS). Institutional Investors Advisory Services (IiAS) has put out advisories recommending shareholders to vote against key resolutions put up by the two companies in their upcoming annual general meetings.

( Originally published on Dec 23, 2022 )