PTC India Financial Services Limited (PFS) announced key changes in its leadership following a Board of Directors meeting held on 4th June 2026. The Board approved the appointment of Shri Rajiv Malhotra (DIN: 02383396) as MD&CEO (Addl. Charge). This appointment is effective from 1st July 2026 until 30th November 2026, subject to shareholder approval. Shri Malhotra will transition from his role as Nominee Director of PTC India Limited, the holding company. He is currently serving as Executive Director & Group Chief Risk Officer at PTC India Limited. Shri Malhotra's appointment requires shareholder approval via Postal Ballot. The company will provide details on the process and timelines for the Postal Ballot in due course. The resignation of the current MD&CEO, Shri R. Balaji (DIN: 05197554), effective 30th June 2026, was also noted. Shri Rajiv Malhotra, aged approximately 59, holds a Mechanical Engineering degree and a Post Graduate Program in Management. He is an alumnus of NIT Kurukshetra and IIM Lucknow, and also holds a CFA charter. He brings over 35 years of experience in the utility and energy sectors, with prior roles at NTPC, Athena Energy Ventures Pvt. Ltd., and Energy Infratech Pvt. Ltd. He has extensive experience in strategy, finance, risk analysis, and stakeholder relations. Shri Malhotra is not debarred from holding a director's office by any regulatory authority. It was also noted that Shri Rajiv Malhotra and Dr. Manoj Kumar Jhawar are related as nominees of PTC until 1st July 2026 and are both employed by PTC. The Board meeting commenced at 4:00 P.M. and concluded at 5:00 P.M.
