New Delhi – The supervision has refused to extend a reign of SAIL Chairman C S Verma compartment his superannuation — creation him a initial ‘Maharatna’ PSU conduct to be denied prolongation during a stream NDA regime.
Verma was allocated SAIL Chairman and Managing Director for a 5-year reign in Jun 2010 by a prior UPA government, though was authorised for an prolongation compartment he achieved a superannuation age of 60 years in Sep 2019.
His reign finished currently as a Steel Ministry did not pierce papers for his extension, sources said, while adding that Steel Secretary Rakesh Singh has been given a assign of SAIL
Chairman for 3 months.
The final time a ‘Maharatna’ PSU conduct was denied prolongation was in May 2006 when Subir Raha’s reign was not extended as CMD of Oil and Natural Gas Corp. There are 7 state-owned companies that have been personal as ‘Maharatna’ or largest PSUs and embody NTPC, Coal India, IOC, BHEL and GAIL.
Government headhunter Public Enterprise Selection Board will now call for applications to name a new Chairman who will take assign after a capitulation of Appointments Committee of a Cabinet, a routine that might take adult to 6 months.
Sources pronounced SAIL, Director (Finance) Anil Kumar Choudhary is among a contenders for a post.
Among other vast PSUs, energy writer NTPC Chairman and Managing Director Arup Roy Choudhury will finish his five-year reign on Aug 31 and will be authorised for prolongation compartment he attains superannuation age of 60 years in Dec 2016.
There is conjecture he too might not get an extension.
Gas application GAIL India Ltd Chairman B C Tripathi, however, got a second five-year reign in Jul 2014 though as per PESB rules, his appointment has to be reliable after 1 year.
It stays to be seen if Tripathi, who was a youngest chairman to conduct a Maharatna PSU when he was allocated GAIL conduct in Aug 2009 by a UPA government, will be authorised to continue for his second 5 year reign finale Jul 2019.
Tripathi will be authorised for a third reign compartment Jan 2020 when he turns 60.
As per PESB rules, any appointment to a PSU house for some-more than 3 years has to be re-confirmed after one year from holding charge.