PFS APPOINTS DR. PAWAN SINGH AS MANAGING DIRECTOR & CEO FOR A PERIOD OF FIVE YEARS

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New Delhi, 4th October 2018: The Board of Directors of PTC India Financial Services Limited (PFS)in its meeting held on 3rd October has appointed Dr. Pawan Singh as Managing Director and Chief Executive Officerwith immediate effect for a period of five years or upto the date of superannuation, whichever is earlier.

With a diversified and rich experience of over 34 years in finance including infrastructure finance, Dr Pawan Singh has been a part of PFS as Director (Finance) & CFO for close to 7 years.Prior to PFS, he has handled several senior and Board level responsibilities in all areas of power sector i.e. generation, transmission, distribution and infrastructure financing. He has also been responsible for turnaround of power companies from loss making to dividend paying companies.

Prior to joining the Board of PFS, Dr. Pawan Singh served as Director Finance of Delhi Transco, Genco and Holdco.

Presently, Dr Singh is on the Board of IIFCL Asset Management Company and Board of Governors, MDI, Gurugram. He also served as member of IRAS. Dr Singh holds MBA and PhD in Management.

The Board has also reappointed Mrs. Pravin Tripathi as Independent Director for a period of three years w.e.f. 14th October, 2018 and Mr Sanjay Rustagi as Chief Financial Officer with immediate effect till further decision.

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