Industry

PTC India board to meet Jan 22 after allegations of irregularities in financial lending units


will hold its first board meeting on Saturday following recent allegations of lapses in governance and operations at its financial lending units.

Rajib Mishra, the company’s chairman, did not elaborate on the agenda of the meeting.

Mishra was addressing a news conference after shares of non-banking financial company PTC India Financial Services Ltd (PFS) continued to fall on Friday.

The firm was accused of lapses in corporate governance by three independent directors who resigned on Thursday.

Mishra promised an investigation into the matter and has formed an internal committee which he said would submit a report in 30 days.



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