PTC India Limited has confirmed the immediate cessation of Shri Rajneesh Agarwal as a Director, following the withdrawal of NHPC Limited’s nomination. This action complies with the Ministry of Power’s direction that NTPC will become the Sole Promoter of PTC. Consequently, NHPC is relinquishing its ‘Promoter’ status, necessitating a re-classification of its holding to ‘Non-Promoter’ status going forward.
Cessation of Nominee Director
PTC India Limited has formally announced the withdrawal of Shri Rajneesh Agarwal (DIN: 10816601) from its Board of Directors, effective March 02, 2026. This change was initiated by NHPC Limited, who nominated the director.
Reason for Board Change
The cessation is a direct consequence of directions issued by the Ministry of Power. These directions mandate that NTPC shall henceforth operate as the Sole Promoter of PTC India Limited. In alignment with this directive, NHPC Limited, along with other existing promoters, is required to withdraw its nominee directors and relinquish all associated ‘Promoter’ rights.
Relinquishment of Promoter Rights
Furthermore, NHPC Limited has formally conveyed the Relinquishment of Status and Rights as a ‘Promoter’ of PTC India Limited, as defined in the Articles of Association (AoA). The company is now requested to undertake the necessary corporate actions to re-classify NHPC Limited from the ‘Promoter’ category to the ‘Non-Promoter’ category, based on the relevant regulatory guidelines.
Director Profile Note
The details provided for Shri Rajneesh Agarwal confirm that the change is due to the withdrawal of nomination, and no further information regarding his brief profile or director relationships is applicable for disclosure in this context.
Source: BSE
