NTPC’s Board of Directors has addressed leadership changes at PTC India Limited, following an Office Memorandum from the Ministry of Power. NTPC will become the sole promoter, with other promoters relinquishing their nominee directors. The CMD of NTPC will function as the Non-Executive Chairman of PTC, while the CMD of PTC will be redesignated as Executive Managing Director. These changes are effective as of January 30, 2026.
Key Leadership Realignment at PTC India
The Board of Directors of NTPC has formally acknowledged an Office Memorandum dated January 16, 2026, which outlines significant changes in the leadership and promoter structure of PTC India Limited. This decision, influenced by the Ministry of Power, Government of India, signals a strategic shift in the operational control and direction of PTC India.
NTPC to Become Sole Promoter
According to the memorandum, NTPC Limited (NTPC) will now function as the Sole Promoter of PTC India Limited (PTC). Consequently, Power Finance Corporation Limited (PFC), Power Grid Corporation of India Limited (POWERGRID), and NHPC Limited (NHPC) will withdraw their nominated directors from PTC’s Board. They will also relinquish their rights as promoters, in accordance with the Articles of Association.
Executive Roles and Responsibilities
The changes also impact the executive leadership within PTC. The CMD (Chairman and Managing Director) of NTPC will assume the role of Non-Executive Chairman of PTC. Simultaneously, the current CMD of PTC will be redesignated as Executive Managing Director, streamlining the executive management structure.
Government Influence and Control
Following the withdrawal of nominee directors from other Central Public Sector Undertakings (CPSUs) and the transfer of management control to NTPC, the Ministry of Power retains the option to withdraw its own nominee director from the Board of PTC. This reflects the government’s continued oversight and influence in key strategic decisions related to the power sector.
Necessary Amendments
The outlined changes are subject to necessary amendments in the Articles of Association of PTC India and other regulatory and statutory compliance requirements to ensure smooth implementation of these leadership and structural changes.
Source: BSE
