Key Decisions

1. Appointment of MD & CEO (Addl. Charge): The Board approved the re-designation of Shri Rajiv Malhotra (DIN: 02383396) from Nominee Director of PTC India Limited (the holding company) to the position of MD & CEO (Addl. Charge). This appointment is effective from 1st July 2026 until 30th November 2026, coinciding with his superannuation date from PTC. The appointment is made on the recommendation of the Nomination and Remuneration Committee and is subject to approval by shareholders of the Company. Shri Rajiv Malhotra is liable to retire by rotation.

2. Shareholder Approval Process: The Board approved seeking shareholder approval for Shri Rajiv Malhotra's appointment as MD & CEO (Addl. Charge) through a Postal Ballot. The process, timelines, and requisite details will be communicated separately along with the Notice of Postal Ballot.

Background Context

The appointment follows the resignation of Shri R Balaji (DIN: 05197554) from the position of MD & CEO, effective 30th June 2026. His resignation was previously communicated to the stock exchanges via letter dated 30th March 2026.

Director Details

Shri Rajiv Malhotra is not debarred from holding the office of Director by virtue of any SEBI order or other authority. He is currently Executive Director & Chief Risk Officer of PTC India Limited (not on the Board). His profile includes:

  • Age: Approximately 59 years
  • Qualifications: Mechanical Engineer from NIT Kurukshetra, Post Graduate Program in Management from Indian Institute of Management Lucknow, Chartered Financial Analyst (CFA)
  • Experience: Over 35 years in utility and energy sector, including initial 9 years with NTPC. Expertise covers strategy and finance, customer relations, cyber resilience, people policy, tariff and risk analysis, and regulatory matters.
  • Current Role: Executive Director & Group Chief Risk Officer of PTC India Ltd since June 2013

Relationship Disclosure

Shri Rajiv Malhotra and Dr. Manoj Kumar Jhawar are related to the extent that both are nominees of PTC India Limited until 1st July 2026 and both are employed with PTC.