PTC India’s board is set for a restructuring following a directive from the Ministry of Power. NTPC is slated to become the sole promoter. PFC, POWERGRID, and NHPC will withdraw their nominee directors and relinquish promoter rights. The CMD position will be split into a Non-Executive Chairman and an Executive Managing Director. These changes necessitate amendments to the Articles of Association.
Board Changes Initiated
The Board of Directors of PTC India Limited, in a meeting held on January 23, 2026, acknowledged an Office Memorandum from the Ministry of Power, Government of India, dated January 16, 2026, which outlines key changes to the company’s promoter structure and board composition.
NTPC to Become Sole Promoter
As per the directive, NTPC is expected to become the sole promoter of PTC India. Other current promoters, including PFC, POWERGRID, and NHPC, will withdraw their nominee directors from PTC’s Board and relinquish their rights as promoters, aligning with the Articles of Association.
CMD Position to Be Split
The current role of Chairman and Managing Director (CMD) will be divided into two distinct positions:
* A Non-Executive Chairman
* An Executive Managing Director (MD)
The existing CMD will function as the Non-Executive Chairman. The CMD (PTC) would be redesignated as MD (PTC).
Withdrawal Communications Expected
PFC, POWERGRID, and NHPC are expected to formally communicate to PTC their intentions to withdraw their respective nominee directors from the Board and relinquish their rights as promoters.
Further Amendments Required
Implementing the changes will necessitate amendments to PTC India’s Articles of Association (AoA). Following these amendments, PFC, POWERGRID, and NHPC will request re-classification as non-promoters.
Nodal Officer Appointed
An Executive Director (CP&BD) from NTPC will serve as the Nodal Officer responsible for coordinating and implementing these changes.
Source: BSE
