Corporate Governance Crisis Hits PTC India Financial Services as Three Independent Directors Exit

PTC India Financial Services Ltd. has been thrust into a fresh corporate governance controversy following the simultaneous departure of three independent directors who cited concerns about their ability to maintain oversight standards at the non-banking finance company. On 28 September 2025, three independent directors—Seema Bahuguna, Naveen Bhushan Gupta, and PV Bharathi—submitted their resignations with immediate effect, marking a significant setback for the state-run PTC India subsidiary. The trio, who had been serving on the board since November 2022, were approaching the end of their three-year tenure when they abruptly stepped down. In their resignation communications, all three directors pointed to a deteriorating work environment that compromised their independence. "Du