The Securities and Exchange Board of India (SEBI) has found PTC India Financial Services top officials, Rajib Mishra and Pawan Singh, responsible for corporate governance lapses in its investigation. The company s directors had resigned previously citing serious governance lapses and accusing the chairman and CEO of running the company affairs single-handedly.
The problems listed by them make for a distressing read and throw a spotlight on how Indian companies routinely fail when it comes to strengthening corporate governance norms.