New Delhi: A board-level change at Power Finance Corporation comes amid a shift from corporate to political engagement.
Power Finance Corporation Limited confirmed that Bhaskar Bhattacharya has stepped down from his role as Independent Director. As detailed in the filing dated April 02, 2026, the resignation was formally communicated via email on April 01, 2026, marking the end of his tenure on the company’s board.
According to the resignation letter shown on page 2, Bhattacharya cited his proposed candidature in the West Bengal Assembly elections as the sole reason for stepping down. He indicated that the move was intended to avoid any potential conflict of interest while transitioning into a political role.
The company clarified that there were no other reasons behind the resignation. Bhattacharya explicitly confirmed this in his communication, ensuring that the decision was not linked to governance issues or internal disagreements. This provides continuity assurance regarding the company’s board stability.
Bhattacharya had been appointed as a part-time Non-Official Director on the board for a period of one year following a Ministry of Power order dated May 13, 2025. His tenure was aligned with regulatory norms governing such appointments in public sector undertakings.
The company disclosed the development under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing ensures transparency and keeps stakeholders informed of changes in board composition.
In his resignation note, Bhattacharya expressed gratitude to the leadership and board members for the opportunity to serve at PFC. He acknowledged the support received during his tenure and conveyed his appreciation for the experience of working with the organisation.
While the resignation marks a change in board composition, the company has not indicated any disruption to its governance or operations. The structured disclosure and clarity on reasons suggest a smooth transition. The resignation reflects a personal career transition while maintaining transparency, with PFC ensuring stakeholders remain informed about board-level developments.
Disclaimer: This article is based solely on the company’s stock exchange filing and accompanying document images and does not include external sources or independent verification.
