An appellate tribunal has overturned a decisive regulatory action linked to the PFS episode, after vocal independent directors argued the matter was never a simple corporate spat. They claim the “rule of law collapsed” under former management. With calls growing for regulators to appeal, ex-CEO Pawan Singh says the SAT order strengthens confidence in value-based corporate governance.
Three independent directors of PTC Financial resigned abruptly on Friday, reigniting scrutiny over the company’s corporate governance. The move comes as longstanding governance problems appear to be resurfacing. With directors stepping down at once, stakeholders are now likely to closely examine what went wrong and how the board plans to restore confidence.
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A parliamentary panel warns of a managerial crisis across Central Public Sector Enterprises, saying many operate without full-time CMDs and face funding strains. It also notes a severe shortfall of independent directors, raising concerns over oversight and accountability. The panel urges action including revisiting dividend policies and speeding up leadership appointments to improve competitiveness.
HDFC Bank’s chair exit has triggered fresh calls for accountability, with experts urging the formation of a committee of independent directors to examine what led to the move. The push suggests concerns about governance clarity and potential internal disagreements, while others frame it as a chance to reset leadership priorities and strengthen oversight.
Dish TV India said shareholders overwhelmingly approved the appointment of three independent directors, a vote of confidence in its strategic direction. The DTH operator plans to strengthen core operations while backing sustainable growth not only in its traditional DTH business but also in newer efforts such as connected TV and OTT.
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