New Delhi. Power Finance Corporation Limited (PFC) has once again witnessed a major shake-up at the top. In a move made without any clear explanation, the company has appointed Mr. D. V. Subba Rao, Executive Director, as the new Head of Internal Audit, replacing Mr. Milind Madhusudan Dafade, who has been abruptly removed from the position. The new appointment takes effect from May 9, 2025, for a term of three years or until Mr. Rao’s superannuation, whichever is earlier.
Market watchers and analysts believe that such repeated changes at the senior-most level are not mere formalities but could be signs of deeper internal struggles and shifting power equations within the company. Particularly in a sensitive role like internal audit, this sudden reshuffle raises questions about potential disruptions and instability in PFC’s internal governance.
While PFC has officially termed this as an intimation “for information and record,” insiders suggest that such high-level appointments often reflect strategic maneuvering and undercurrents of pressure within large corporations. Naturally, this has sparked concerns among investors and stakeholders about whether all is well inside PFC — or if this is a symptom of larger issues brewing beneath the surface.
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