PTC India removes Kulamani Biswal from its board

PTC India today said Kulamani Biswal, nominee director of state-run NTPC, has ceased to be a director on its board with effect from December 19.
"Kulamani Biswal... nominee Director of NTPC has ceased to be a Director on the board of PTC India Ltd from December 19, 2017," PTC India said in a BSE filing.
Last week, state-owned power giant NTPC informed the BSE about the supspension of its director (finance) Kulamani Biswal.
Earlier this month, the CBI had booked Biswal, along with two others, in connection with a case pertaining to corruption and had carried out search at his residence at Asian Games Village here.

"NTPC has been informed by the Ministry of Power, Government of India vide order dated December 14, 2017 that the competent authority, in exercise of the powers conferred under NTPC Conduct Discipline and Appeal Rule 1977, has placed Kulamani Biswal, Director (Finance), NTPC under suspension with immediate effect," an NTPC statement to BSE had said.
The CBI had registered an FIR against Biswal, BGR Mining and infra director Rohit Reddy Bathina and Prabhat Kumar.
It alleged that Biswal demanded from Bathina that he should arrange US dollars of about Rs 5 lakh to be spent by him during his trip abroad.