Saving Private Pawan #2: How PTC twins used INR1 crore to save top brass from Sebi, RBI

Rajib Mishra(left) and Pawan Singh(right)

Synopsis
Response to two show cause notices issued last year to chairman Rajib Mishra and erstwhile managing director and CEO of PFS Pawan Singh gave rise to this bill. Now, an external agency has been appointed to probe funds spent on legal expenses by parent company PTC India. What will it unearth?

On June 12, the Securities and Exchange Board of India (Sebi) barred Pawan Singh, the former managing director and CEO of PTC India Financial Services Ltd (PFS), from holding the position of director or key managerial personnel in any listed company for two years. Sebi also barred Rajib Kumar Mishra, the acting chairman of PFS, from holding a director's position in any listed firm for six months. This Sebi order is the result of an ongoing

( Originally published on Jun 12, 2024 )