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Our Bureau

New Delhi , Sept 29

POWER Trading Corporation India Ltd (PTC) today re-appointed Mr T.N. Thakur as Chairman and Managing Director for another five years. The Board of Directors of the company approved the re-appointment of Mr Thakur and Director (Operations) Mr S.K. Dube for five years, PTC informed the Bombay Stock Exchange.

The country's largest power trader had earlier postponed its Board meeting on two occasions (on August 24 and on September 1) as representatives of state-owned promoter companies expressed their "unavailability" for the meeting.

The company is now likely to seek shareholders approval on the re-appointments at its annual general meeting, which was earlier scheduled for September 27. State-run NTPC, NHPC, Power Grid Corporation Ltd, Power Finance Corporation, Damodar Valley Corporation and private sector Tata Power Company, along with some financial institutions, are promoters of PTC India.

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