Shri V. Packirisamy has assumed charge as Director (Commercial) on the Board of Power Finance Corporation effective June 2, 2026. The appointment was made pursuant to an order from the Ministry of Power, Government of India, under the Articles of Association of the company. He will serve in this capacity until the date of his superannuation or until further orders, whichever is earlier.

The Ministry of Power, through its order No. F.No.24-8/1/2021-PFC (MoP) dated June 2, 2026, informed the company of the appointment. The disclosure was made to the exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015.

Packirisamy brings over 33 years of rich and diverse professional experience to the role. He has been associated with Power Finance Corporation since January 1997. He holds a Bachelor's degree in Mechanical Engineering from Sastra University and an M.Tech in Management Systems from IIT Delhi.

Throughout his tenure, he has worked across multiple domains including credit appraisal, rating of power utilities, power sector reforms and restructuring, and financial analysis of borrowers. He has played a key role in the preparation of Operational & Financial Action Plans (OFAP) and contributed to consultancy assignments on financial and commercial aspects of the power sector.

His contributions have been instrumental in strengthening the company's institutional framework, expanding operations, and enhancing appraisal and risk management frameworks. He has significantly contributed to the growth of the loan portfolio and the resolution of stressed assets. Additionally, he has been involved in formulating lending policies, developing financial analysis systems, establishing borrower rating mechanisms, and ensuring regulatory compliance. He has also led the IT transformation of the organization, enhancing overall IT capacity development.

As per the declaration provided by Shri V. Packirisamy, he is not debarred from holding the office of Director by virtue of any SEBI Order or any other such authority. There are no reported relationships between directors.

Power Finance Corporation has witnessed a significant corporate development with the Registrar of Companies (ROC) formally striking off four of its associated entities effective June 1. The entities removed include PFC Projects Limited, along with three fully owned subsidiaries — Deoghar Infra Limited, Deoghar Mega Power Limited, and Jharkhand Infrapower Limited.

Regulatory Striking Off of Subsidiaries

The ROC has officially deregistered all four entities, marking their complete removal from the register of companies. This regulatory action represents the formal closure of these entities' legal existence under applicable corporate laws. The striking off of three fully owned subsidiaries — Deoghar Infra Limited, Deoghar Mega Power Limited, and Jharkhand Infrapower Limited — alongside PFC Projects Limited underscores a broader consolidation of Power Finance Corporation's corporate structure.

The following table summarises the key details of the regulatory action:

The deregistration of these entities by the ROC signifies their complete removal as active registered companies. Such actions by the ROC represent a formal conclusion to the legal existence of these entities under applicable corporate regulations.