PTC Indian Financial Services sees unprecedented resignation by all the Independent Directors. Must be looked into by regulators urgently.

All 3 independent directors of PTC Indian Financial Services (PFS) have resigned citing corporate governance concerns. I don’t remember something like this happening before. Key points to note – PFS is the NBFC subsidiary of PTC India (65% ownership) Independent directors have raised corporate governance concerns especially on the MD & CEO of PFS, Pawan … Read more

RIL, M&M bid for incentives under India’s Rs 18k-cr battery scheme: Report

Indian conglomerate Reliance Industries, South Korea’s Hyundai Motor Co and automaker Mahindra & Mahindra are among companies that have submitted bids under the country’s Rs 18,000-crore billion battery scheme, two sources told Reuters. India last year finalised an incentive program to encourage companies to invest in the local manufacturing of batteries as it looks to … Read more

New CFO joins Tata Power. Seems normal course of business.

On October 28, 2021, Tata Power had informed to appoint Mr Sanjeev Churiwala as new Chief Financial Officer (CFO) to replace Mr Ramesh Subramaniam, who was moving into a new role within the Tata Group. Key points to note – Sanjeev has joined the company w.e.f January 1, 2022. He has more than 27 years … Read more

Bajaj Electrical decides to separate Power T&D business. Makes perfect sense.

A board decision has been taken to look for the best possibilities and parallely a wholly owned subsidiary to be created to provide a ready vehicle for restructuring. Key points to note – Bajaj Electrical (BE) is present in two segments Consumer Products (CP) – appliances, fans, consumer lighting Engineering Procurement and Construction (EPC) – … Read more