Mumbai, April 7 -- The short-term facilities have been reaffirmed at 'Crisil A1'.

Crisil Ratings stated that the ratings were placed on watch in October 2025, following the resignation of three independent directors of the company citing an unfavorable company environment that hindered their ability to function independently.

The independent directors did not provide specifics in their resignation letters. PFS, in turn, stated that the outgoing directors had been actively participating in all board and committee meetings and had not raised any concerns previously.

Subsequently, the company appointed three new independent directors, two of whom are also independent directors on the board of PTC India Limited, thereby ensuring compliance...