PTC India's stock has gained close to 20 percent ahead of the Union Budget 2023.

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

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

This final dividend is in addition to the interim dividend of Rs 2 per equity share, a company statement said.

"Bhutan, through Druk Green Power Corporation Limited, has entered into an agreement with PTC India Ltd, for purchase of power from Indian power market in order to meet its power requirement during the dry winter season," PTC India said in a statement.

Power Grid, NHPC, NTPC and Power Finance Corp each hold 4.05 percent stake in PTC India

The proposed legislation is meant to plug the gaps left open and discovered post- the Electricity Act of 2003. 

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

The MoU was signed by NHPC CMD A.K. Singh and Dr. Rajib K. Mishra, CMD, PTC India Limited.

SAPDC is setting up two hydroelectric projects -- 900 MW Arun-3 and 669 MW Lower Arun -- in Sankhuwasabha, Nepal. Commercial operation of 900 MW Arun-3 is scheduled to commence in year 2023-24, and that of 669 MW Lower Arun hydroelectric project is scheduled to commence in year 2027-28.

The exchange will initially offer trading in Contingency contracts, Green Contingency contract and Renewable Energy Certificates. It will steadily increase its product portfolio and provide a wide range of contracts to address the demand of different segments of the electricity market, an official statement said.

The areas of development shall include feasibility studies and/or project management services for green hydrogen solutions to potential beneficiaries in India. Both PTC and GHIPL will also work towards identifying opportunities for development of a centre of excellence for facilitation of green hydrogen in India.

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 firm was accused of lapses in corporate governance by four independent directors, who resigned last week.

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.

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.

PTC India acting chairman and managing director Rajib Kumar Mishra questioned the independent directors intent to raise questions regarding 10-year old loan and said PFS will soon fill the board level vacancies with ‘young people with ‘NBFC background to make faster decisions. He did not rule out an intent to ‘malify the company.

Rajib Mishra, the company's chairman, did not elaborate on the agenda of the meeting. Mishra was addressing a news conference after shares of non-banking financial company PTC India Financial Services Ltd (PFS) continued to fall on Friday. The firm was accused of lapses in corporate governance by three independent directors who resigned on Thursday.

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.

PTC India was selected as an aggregator to facilitate the sale and purchase of power.

PTC India Limited, has got orders from BEE for their flagship Perform Achieve & Trade (PAT) scheme in eight states / UTs, the leading power trading solutions & consulting services provider said in a statement. The company has won consultancy assignments on project management & impact assessment of energy efficiency projects from BSCL and EESL.

Total income stood at Rs 5,474.34 crore in the quarter under review as compared to Rs 6,011.39 crore in the same period last year.

Securitisation volumes in the first half of the current fiscal at Rs 42,200 crore were higher than the Rs 22,700 crore in the corresponding period of last year.

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

The government announced the framework for the implementation of Market-based Economic Despatch – Phase 1, a new set of reforms that will nudge the power sector away from power purchase agreements towards market-based price formation.

PTC India Ltd., incorporated in the year 1999, is a Small Cap company (having a market cap of Rs 2924.56 Crore) operating in Power sector.

The company's net profit had stood at Rs 100.06 crore in the June quarter of the financial year 2020-21, it said in a BSE filing.

The strong listing was in line with the recent trend, wherein market debutants have delivered 50-100 per cent returns at listing.