On behalf of the Board of Directors of PTC India Financial Services Limited (PFS), we would like to express our gratitude to you for your valuable services as an Independent member of the Board. Your contributions have been significant and valued.
The purpose of this letter is to inform you about the new provisions related to independent directors, introduced under the new Company law in India i.e. Companies Act, 2013. The Companies Act, 2013 has specifically defined the roles, duties, liabilities and the manner of appointment of the Independent Directors (IDs) on the board and various Committees of the Company.