The promoters - NTPC, NHPC, Power Finance Corp and Power Grid Corp of India - hold a combined stake of around 16% in PTC India. Damodar Valley Corp, which owns a 3.3% ownership, has also decided to divest its shareholding.

The PFS management has dismissed the findings of a forensic audit, citing views of E&Y and a former chief justice of India.

The central bank, which went into the allegations by directors who quit complaining that the management was not cooperating to put the house in order, is said to be concurring with the forensic audit conducted by the company, which found out violations, including evergreening of loans.

In 2023-24, the company aims to scale up loan sanction to over Rs 6,000 crore, PFS managing director and chief executive officer Pawan Singh tells Moneycontrol. Singh also says the company does not fully agree with the findings of a forensic audit by CNK & Associates

"We are also exploring opportunities in emerging areas of Green Hydrogen, Battery Energy Storage Systems through collaborations with global technology companies," Rajib K Mishra, CMD (additional charge), PTC India said.

The telecom subscriber base in the country declined by 117 crore in October due to Vodafone Idea losing a large number of mobile customers during the month, said Trai's report. Only Reliance Jio and Bharti Airtel added new customers in October.

Shares of Rashtriya Chemicals will trade ex-dividend in respect of its interim dividend (Rs 1.6 per share) and final dividend (Rs 2.5 per share) today. Also, shares of Sukhjit Starch (Rs 8 per share) and PTC India (Rs 5.8 per share) will go ex-dividend today.

Three independent directors have resigned since November 22 amid allegations of mis-governance at the company. Independent directors Jayant Gokhale and Devendra Saksena resigned on December 2 while Sushama Nath resigned on November 22 after the release of the audit report earlier in the month.

Uniparts India will be listed at bourses on Monday. Its Rs 835.6 crore IPO was open was open between November 30 and December 2, sold in the range of Rs 548-577. It issue was overall subscribed more than 25.3 times.

Dharmaj Crop Guard will make its debut at the Dalal Street on Thursday after raising Rs 251 crore from primary markets. Its IPO, which was subscribed 35.5 times, was open between November 28-30 in the range of Rs 216-237 apiece.

The aggregate loan assets and non-fund-based commitments against sanctioned loans stood at Rs 8,686 crore at end of March 2022. Loan assets aggregated to Rs 8,650 crore and outstanding non-fund-based commitments were at Rs 36 crore.

Private equity firm TPG Capital will sell shares of Nykaa at floor price of Rs Rs 184.55 apiece worth Rs 1,000 crore through a block deal, according to reports. Citigroup is the banker to the deal.

The Nifty IT index was trading 0.19 per cent down at 28517.3.

PFS told stock exchanges that CNK & Associates LLP, chartered accountants hired by the company to conduct a forensic audit, submitted a draft report on October 24, which the management is in the process of responding to in order to complete the forensic audit at the earliest.

PTC India Ltd. key Products/Revenue Segments include Electricity, Other Operating Revenue, Sale of services for the year ending 31-Mar-2021.

According to a press release issued by the company, the ASM report said that it is maintaining the required level of transparency in terms of submission of data/statements to the lenders as stipulated at the time of sanction.

"The Agency for Specialized Monitoring (ASM) appointed by lender/s issued a satisfactory report dated June 30, 2022 (received on July 04, 2022) for Q3FY2022," PFS said in a statement.

PFS, a non-banking infrastructure finance company, and GGGI -- an international, inter-governmental organisation -- signed a memorandum of understanding wherein technical support would be provided by GGGI to PFS for the development and establishment of renewable energy focused fund.

The Nifty Bank index was trading 0.13 per cent down at 33297.1.

The Nifty Realty index closed 0.61 per cent down at 388.6.

The Nifty Pharma index closed 0.35 per cent up at 12261.35.

The Nifty Auto index closed 0.92 per cent up at 11206.75.

The Nifty IT index closed 0.5 per cent down at 27812.45.

The Nifty IT index was trading 0.08 per cent down at 27930.65.

The Nifty Auto index was trading 0.93 per cent up at 11206.95.

The forensic report is investigating the allegations made by three independent directors who resigned together from the company in January.

SEBI had in January barred PTC India Financial Services Ltd, a subsidiary of PTC, from holding board meetings after three independent directors, who quit, flagged corporate governance issues

A meeting of the Board of Directors was scheduled to be held on January 22, 2022, however, as the company did not have quorum in compliance of SEBI (LODR) Regulations, 2015, therefore, the same could not be held, the filing said.

The companys acting chairman and managing director Rajib K Mishra said the Management of PTC India Ltd is committed towards corporate governance of highest standard in its functioning as well as of its subsidiaries.

Ajit Mishra, VP - Research, Religare Broking, said, "Markets remained under pressure for the third successive session and lost nearly a per cent. The tone was negative from the beginning, tracking weak global cues which further deteriorated as the day progressed. However, a rebound in the final hour trimmed some losses."

The three independent directors – Kamlesh Shivji Viakmsey, Thomas Mathew T and Santosh B Nayar -- have flagged serious concerns on conduct on the management of the PFS India led by managing director and CEO Pawan Singh.

The three independent directors – Kamlesh Shivji Viakmsey, Thomas Mathew T and Santosh B Nayar -- have flagged serious concerns on conduct on the management of the PFS India led by managing director and CEO Pawan Singh. In their resignations, the independent directors have alleged that actions of Singh were in violation of his powers.

The fundraising is expected to be completed by the end of January, PTC India Financial managing director Pawan Singh said.

There are about 1,552 such funds - known as exempted provident funds - with an estimated Rs7-8 lakh crore corpus which can invest as much as 15 percent of corpus in equities. Many funds nearly exhausted the limits through the bull run.

Total income, however, fell to Rs 254 crore as against Rs 298 crore in Q1 FY21 as interest income declined.

In another transaction, Visa Capital Partners sold 152,191 shares of Libas Consumer Products at Rs. 69.94 apiece through a bulk deal.

The company said it received Rs 976.50 crore order for Luhri Hydro Electric Project Stage I (210 MW) (Luhri Project) from Sutlej Jal Vidyut Nigam, a joint venture between the Government of India and Himachal Pradesh State Government.

Its total income (consolidated) also fell to Rs 269.39 crore in Q3 FY21 as against Rs 331.70 crore in the same quarter a year ago, PFS said in a regulatory filing.

The company is in the dollar bond market with a 6-year-green bond issue worth USD 560 million. The weighted average life of the bond is 5.1 years, one of the sources told on Tuesday.