PTC India Financial Services Limited (PFS) announced that its Board of Directors, in a meeting held on June 4, 2026, approved the appointment of Shri Rajiv Malhotra as MD&CEO (Additional Charge). Shri Rajiv Malhotra will assume this role effective July 1, 2026, and will continue until November 30, 2026. This appointment is made following the resignation of the current MD&CEO, Shri R Balaji, which is effective June 30, 2026. Shri Malhotra's appointment is recommended by the Nomination and Remuneration Committee and is subject to shareholder approval via postal ballot. Shri Malhotra, currently serving as Executive Director & Group Chief Risk Officer of the holding company, PTC India Limited, is not debarred from holding a director's office. The company will submit the notice for the postal ballot, including the process and timelines, in due course. Shri Malhotra, aged about 59, is a Mechanical Engineer with a Post Graduate Program in Management and a charter in Financial Analysis (CFA). He brings over 35 years of experience in the utility and energy sector, with a focus on strategy, finance, and risk analysis. He is related to Dr. Manoj Kumar Jhawar as both are nominees of PTC and employed by PTC.
