PTC India Financial Services has approved the re-designation of Rajiv Malhotra as Managing Director and Chief Executive Officer (Additional Charge) effective July 1, 2026. The Board of Directors approved the appointment at its meeting held on June 4, 2026, on the recommendation of the Nomination and Remuneration Committee. The appointment is subject to the approval of the shareholders of the company.

Rajiv Malhotra, who is currently a Nominee Director of PTC India Limited (the holding company) and serves as Executive Director & Group Chief Risk Officer at PTC, will hold the position until November 30, 2026. His tenure extends until the date of his superannuation from PTC India Limited. The company noted that Malhotra is not debarred from holding the office of a director by any SEBI order or other authority.

The Board also decided to seek shareholder approval for the appointment via a postal ballot. The specific timelines and procedural details for the postal ballot will be disclosed in the Notice of Postal Ballot in due course. This regulatory filing was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The re-designation follows the resignation of Shri R Balaji from the position of MD&CEO, effective June 30, 2026. The company had intimated the exchanges regarding Balaji's resignation on March 30, 2026. Malhotra brings over 35 years of experience in the utility and energy sector, having previously worked with NTPC and held leadership roles at Athena Energy Ventures Pvt. Ltd. and Energy Infratech Pvt. Ltd.

The disclosure also confirmed a relationship between Rajiv Malhotra and Dr. Manoj Kumar Jhavar, noting that both are nominees of PTC India Limited and are employed by the holding company until July 1, 2026. The Board meeting commenced at 4:00 P.M. and concluded at 5:00 P.M. on June 4, 2026.

Key Appointment Details

PTC India Financial Services Limited has initiated a postal ballot process to secure shareholder approval for the appointment of Shri Rajiv Malhotra as a Non-Executive Nominee Director. The appointment is effective from April 8, 2026, and Malhotra will represent PTC India Limited, the holding company, on the board. This decision was ratified by the Board of Directors through a Resolution by Circulation on May 27, 2026.

Appointment Details

The Board approved the proposal to appoint Shri Rajiv Malhotra (DIN: 02383396) specifically in the category of Non-Executive Nominee Director. The role is designated for a nominee of PTC India Limited, the holding company of PTC India Financial Services Limited. The appointment is retroactively effective from April 8, 2026.

Postal Ballot Process

Shareholders will vote on the resolution through a postal ballot mechanism. The company has indicated that the specific process, timelines, and other requisite details regarding the ballot will be submitted along with the Notice of Postal Ballot in due course. This procedural step ensures compliance with regulatory requirements for director appointments involving shareholder approval.

Key Information