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Compliances addressed, says PTC India on alleged corp governance issues

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New Delhi, May 12 (Ajitweekly News) PTC India on Thursday said it has made significant progress and all compliance issues, in regards to the alleged lapses in corporate governance and operations raised by its three recently-resigned independent Directors, are being addressed.

The allegations were raised by the independent Directors against its financial lending unit — PTC India Financial Services.

PTC India Financial Services, a subsidiary of PTC India, is registered with the RBI as a non-banking financial company (NBFC).

“PFS has informed through their exchange filing on 27th April 2022 regarding appointment of a forensic audit firm to examine the issues highlighted by former Independent Directors,” it said in a statement on Thursday.

The company is taking necessary steps to complete all the compliance with various regulators, the statement added.

–Ajitweekly News

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