PTC India to hold board meeting on issues raised by independent directors

PTC India stated that it will hold a board meeting on Saturday post the recent allegations raised by three independent directors on lapses in governance and operations at its financial lending unit -- PTC India Financial Services.

Earlier this week, three of its subsidiary's independent directors had resigned from their posts.

Three directors such as Kamlesh Shivji Vikamsey, Thomas Mathew T., and Santosh B. Nayar -- resigned citing some corporate governance issues.

"The management of PTC India Ltd is committed towards corporate governance of the highest standard in its functioning as well as of its subsidiaries," the company said.

The issues raised by the three independent directors were related to the appointment of a wholetime director and on some operational issues pertaining to corporate governance, said Sushant Chaturvedi, who handles public policy, outreach and corporate communication at PTC India.

(With inputs from IANS)