Power Finance Corporation Ltd has announced the resignation of Shri Bhaskar Bhattacharya from his position as an Independent Director. The resignation was officially submitted on April 1, 2026. Bhattacharya stepped down from his role on the Board to avoid potential conflicts of interest, as he has been nominated as a candidate for the upcoming West Bengal Assembly election.
Board Resignation Details
Power Finance Corporation (PFC) has received formal notice of resignation from Shri Bhaskar Bhattacharya, who served as an Independent Director on the company’s Board. The resignation was communicated via email on April 1, 2026, and formally acknowledged by the company on April 2, 2026.
Reason for Departure
In his communication to the company, Shri Bhaskar Bhattacharya clarified that his decision to step down is driven by his candidacy in the forthcoming West Bengal Assembly election from the Serampore Constituency. He stated that he chose to resign from his position at PFC specifically to prevent any potential conflict of interest during his election campaign.
Leadership Transition
Shri Bhaskar Bhattacharya expressed his gratitude to the President of India and the company’s leadership for the opportunity to serve a Mahatratna company. He further thanked his fellow Board members, as well as the managerial and staff teams at PFC, for their support throughout his tenure. The company has officially acknowledged his departure as part of its ongoing corporate governance disclosures.
Source: BSE
