PTC India Limited has announced the cessation of Sh. Rajiv Ranjan Jha as a director on its Board, effective May 1, 2026. The change comes as a result of his superannuation from Power Finance Corporation Limited, the nominating company, on April 30, 2026.

Regulatory Compliance and Disclosure

The company has fulfilled its regulatory obligations by informing both BSE Limited and National Stock Exchange of India Limited about this board change. The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board Transition Details

Sh. Rajiv Ranjan Jha served as a Nominee Director representing Power Finance Corporation Limited on PTC India's Board. His cessation is directly linked to his retirement from the nominating organization, following standard corporate governance practices for nominee directors.

Company Communication

The announcement was signed by Rajiv Maheshwari, Company Secretary (FCS-4998), and digitally authenticated on April 30, 2026. PTC India has also committed to hosting this information on its official website at www.ptcindia.com for stakeholder access.

The disclosure includes comprehensive details as required under Schedule III of SEBI Listing Regulations, ensuring full transparency regarding the board composition change. This routine transition reflects the company's adherence to corporate governance standards and regulatory compliance requirements.

PTC India Limited has completed its comprehensive leadership restructuring with the appointment of Sh. Sukhdev Singh as Non-Executive Chairman, following the earlier redesignation of Dr. Manoj Kumar Jhawar as Managing Director & CEO. The power trading company announced both changes through regulatory filings, marking a significant shift from the previous combined Chairman & Managing Director structure.

Leadership Bifurcation and New Appointments

The Board of Directors approved the bifurcation of the combined Chairman & Managing Director position into two distinct roles on February 14th, 2026. Dr. Jhawar transitioned from Chairman & Managing Director to Managing Director & CEO effective April 13th, 2026, while Sh. Sukhdev Singh, an existing Independent Director, was appointed as Non-Executive Chairman on April 16th, 2026.

Approval Process and Timeline

The restructuring followed a comprehensive approval process spanning multiple months. The Board initially approved the bifurcation proposal on February 14th, 2026, subject to necessary approvals. Shareholders approved Dr. Jhawar's designation change through a postal ballot on March 20th, 2026, with the Board ratifying the decision on April 15th, 2026. Sh. Sukhdev Singh's chairman appointment was formalized by the Board on April 16th, 2026.

New Chairman Profile

Sh. Sukhdev Singh, aged 62 years, brings extensive administrative experience to his new role. A 1987-batch Indian Administrative Service officer (Retired), he holds a B.E. (Mechanical) degree from Punjab Engineering College, Chandigarh. His distinguished career spanned nearly 37 years across Bihar and Jharkhand states, including serving as Chief Secretary of Jharkhand for three to four years.

Continued Executive Leadership

Dr. Manoj Kumar Jhawar continues as Managing Director & CEO under the same terms and conditions approved at the 26th Annual General Meeting held on August 8th, 2025. His appointment extends until his superannuation at age 60 on August 19th, 2028. Dr. Jhawar, who holds a Ph.D in Management Sciences and is a qualified Cost Accountant, joined PTC India's Board as Director (Commercial & Operations) on January 18th, 2024.

Corporate Governance Enhancement

The leadership restructuring reflects PTC India's commitment to enhanced corporate governance through role separation. Sh. Sukhdev Singh's appointment as Non-Executive Chairman is subject to receipt of consent from CMDs of all four promoter companies, in line with the company's Articles of Association. His tenure as Chairman will continue until the completion of his existing Independent Director term on November 10th, 2028.

The bifurcation ensures clear separation between executive management and board oversight while maintaining continuity in leadership during PTC India's strategic growth phase.