Four public sector undertakings — NTPC, Power Grid Corporation of India, PFC and NHPC — are its key shareholders and all of them are promoters of the PTC India Ltd’s, the leading provider of power trading solutions in India established in the year 1999 as a Government of India initiated Public-Private Partnership. They want to give up that role to ringfence the companies from any fallout from the PTC India inquiry. They plan to restrict their participation in PTC India’s affairs, such as board representation. They own a little over 16 per cent of PTC India Ltd. However, the process to do so could take a long time and may need amendments to the existing shareholder agreements.
NTPC, PGCIL, REC, PFC keen to quit PTC India as its promoter
