New Delhi: NHPC Limited has announced its formal exit as a promoter of PTC India Limited (PTC), following a directive from the Ministry of Power, Government of India.
The decision was approved by NHPC's Board of Directors in a meeting held today. This move marks a significant change in the corporate structure and shareholding pattern of PTC India, a leading power trading company.
Key Decisions Approved:
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Withdrawal of Nominee Director: NHPC will withdraw its appointed nominee director from the Board of Directors of PTC India Limited.
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Relinquishment of Promoter Status: NHPC will relinquish its status, rights, and obligations as a 'Promoter' of PTC India, as defined in the company's Articles of Association (AoA).
Reason for Exit:
The Board's decision is in compliance with an Office Memorandum (OM) dated January 16, 2026, issued by the Ministry of Power. The directive instructs Central Public Sector Enterprises (CPSEs) under its administrative control to rationalize their investments and board positions in other entities.
Implications:
This step aligns with the government's broader policy of minimizing inter-CPSE cross-holdings and ensuring that state-owned companies focus on their core operational mandates. For PTC India, it signifies a change in its promoter group composition. The detailed process and formalities for this transition are outlined in the official letter submitted by NHPC.