Former PTC India CMD Rajib Mishra to move SAT against Sebi's order

Former PTC India Chairman and Managing Director Rajib Kumar Mishra will move the Securities Appellate Tribunal (SAT) against market regulator Sebi's order to debar him from being a director in a listed entity for six months.

Following the order passed by markets regulator Sebi last week, Mishra ceased to be the chairman of PTC India Financial Services Ltd (PFS) and CMD of PTC India Ltd.

Talking to PTI, Mishra said, "Sebi's order is appealable, and in the merit of the order, I will go to SAT for further action and to safeguard my rights".

PFS, promoted by PTC India Ltd, is a non-deposit-taking NBFC classified as an infrastructure finance company.

Mishra held office in PFS in the capacity of chairman and non-executive director and was also holding the position of Chairman and Managing Director of PTC India Ltd.

"Pursuant to...regulatory order issued by Sebi, Rajib Kumar Mishra ceases to be the chairman, non-executive director of the company with effect from the date of issue of the