PTC India chairman Rajib Kumar Mishra has been given a permanent role in the company even as he is under a regulatory cloud due to issues at subsidiary PTC India Financial Services (PFS). In a short notice to stock exchanges on March 29, PTC India said Mishra had been appointed as chairman and managing director with effect from March 29, 2023. It did not specify the tenure of the new full-time chief.

Mishra was director of marketing and business development before he took over as acting chairman in November 2021 after the then CMD, Deepak Amitabh, resigned in November 2021. He has been under a regulatory cloud following resignations of multiple independent directors in both PFS and parent PTC citing corporate governance issues, mismanagement, evergreening of loans and modification of critical sanction terms by the management without seeking prior approval of the board at PFS.