New Delhi, April 15 -- Power trading company PTC India Ltd has hired Delhi-based ABC Consultants to lead the search for a new chairman and managing director (CMD), according to two people familiar with the development.

The move comes nearly a year after the ouster of former CMD Rajib Kumar Mishra following a directive from the Securities and Exchange Board of India (Sebi). Although the Securities Appellate Tribunal (SAT) later overturned Sebi's order, the PTC board in December chose not to reinstate Mishra either as CMD or as a director. Since then, director (operations) Manoj Kumar Jhawar has held additional charge as CMD.

"ABC Consultants has been contracted for the search and selection process. Typically, such appointments take three...