PTC India's independent director Rakesh Kacker resigned on 21 January 2022 citing "unfortunate developments over the past few months" in the company, in agreement with the allegations on issues of corporate governance made by three outgoing independent directors of its NBFC arm, PTC Financial Services. He said the operations of PTC India might have been affected too. The resignation comes amid firefighting efforts by PTC India management, which has refuted corporate governance issues in the company.

PTC has informed the stock exchanges about the resignation. Kacker, a retired bureaucrat, was also an independent director in PFS but his term expired on December 31.