PTC India says power ministry seeks leadership changes, NTPC as sole promoter

New Delhi: Power trading solutions provider PTC India Limited on Friday said it has received a communication from the power ministry seeking changes in its top leadership and restructuring of the board to make NTPC Limited the sole promoter.

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The board of directors "took note of the office memorandum dated 16 January 2026 received from Ministry of Power", PTC India said in an exchange filing.

According to the memorandum, NTPC may be the sole promoter of PTC. The other three promoters -- PFC, POWERGRID, and NHPC -- shall withdraw their nominee directors from the board of PTC and relinquish their rights, it said.

The ministry has also sought to split the role of PTC India's CMD into two positions, a non-executive chairman and an executive managing director.

CMD (NTPC) would function as the Non-Executive Chairman of PTC, while the CMD (PTC) would be redesignated as MD (PTC).

Upon withdrawal of nominee directors of CPSUs (central public sector units) and transfer of management control to NTPC, the ministry may also withdraw its nominee director from the board of PTC, the filing said.

The above arrangement will require suitable amendments to the Articles of Association (40A) of PTC. Subsequently, PFC, Power Grid and NHPC will request re-classification as non-promoters as per SEBI Regulations, 2015.

Executive Director (CP&BD), NTPC, will be the nodal officer for coordination and implementation of the above arrangement, the filing said.

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