New Delhi: State-owned Power Grid Corporation of India Limited (POWERGRID) has approved the withdrawal of its Nominee Director from the Board of PTC India Limited and the relinquishment of all promoter rights in the company. The decision was taken by POWERGRID’s Board of Directors at its meeting held on January 30, 2026.
The move is in line with an Office Memorandum dated January 16, 2026, issued by the Ministry of Power (MoP), signalling a strategic realignment in government-owned power sector entities. Following this approval, POWERGRID will cease to exercise promoter rights as stipulated under the Articles of Association of PTC India Limited.
The disclosure has been made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and formally communicated to both the National Stock Exchange of India (NSE) and BSE Limited.
The development marks a significant governance shift for PTC India and reflects the government’s broader efforts to streamline roles, improve transparency and reduce cross-holdings among public sector power utilities.
About Power Grid:
Power Grid Corporation of India Limited (POWERGRID) has approved the withdrawal of its nominee director from the Board of PTC India Limited along with the relinquishment of all promoter rights in the company, following a directive issued by the Ministry of Power. The decision, cleared by POWERGRID’s Board on January 30, 2026, marks a significant governance realignment aimed at improving transparency and streamlining cross-holdings among public sector power utilities.