CMD

The government has assigned the additional charge of CMD RINL to Ajit Kumar Saxena, a regulatory filing said on Monday. Saxena is currently the Chairman and Managing Director (CMD) of MOIL, a PSU under the Ministry of Steel. "We have received an order...dated 29.09.2024 from Ministry of Steel assigning the additional charge of the post of CMD, RINL to Ajit Kumar Saxena, CMD, MOIL Ltd with immediate effect...," MOIL said in the filing. As per sources, Atul Bhatt the CMD of RINL is on personal leave from September 9 till November 30, which is also the date of his superannuation. Rashtriya Ispat Nigam Ltd (RINL), under the Ministry of Steel, is a steel manufacturing company. It owns and operates a 7.5 million tonne plant at Visakhapatnam in Andhra Pradesh. The company has been facing severe financial and operational issues. According to a steel ministry document, RINL is in serious financial trouble. It has been running at minimal capacity and facing continuous losses. The overall d

She is a fellow member of the Insurance Institute of India and also an associate member of the Chartered Insurance Institute, London

Former PTC India Chairman and Managing Director Rajib Kumar Mishra will move the Securities Appellate Tribunal (SAT) against market regulator Sebi's order to debar him from being a director in a listed entity for six months. Following the order passed by markets regulator Sebi last week, Mishra ceased to be the chairman of PTC India Financial Services Ltd (PFS) and CMD of PTC India Ltd. Talking to PTI, Mishra said, "Sebi's order is appealable, and in the merit of the order, I will go to SAT for further action and to safeguard my rights". PFS, promoted by PTC India Ltd, is a non-deposit-taking NBFC classified as an infrastructure finance company. Mishra held office in PFS in the capacity of chairman and non-executive director and was also holding the position of Chairman and Managing Director of PTC India Ltd. "Pursuant to...regulatory order issued by Sebi, Rajib Kumar Mishra ceases to be the chairman, non-executive director of the company with effect from the date of issue of the

NLC India plans to invest Rs 82,700 crore by 2030 to scale up its power generation capacity capacity to 17 GW, the company's CMD Prasanna Kumar Motupalli said. Out of the 17 GW, 6 GW will be renewable-based capacity and the balance 11 GW from conventional sources, he told PTI in an interaction. "NLC is having a target of 17 GW by 2030. Based on that we have envisaged a capex of Rs 82,700 crore," Motupalli said in reply to a question on the ongoing and future investment plans of the company. At present, NLC has an installed power generation capacity of 6 GW which comprises 1.4 GW from green sources, the CMD said. The company has set a capex target of Rs 2,480 crore for the ongoing 2023-24 fiscal, he said adding NLC will achieve 80 per cent capex utilisation by December as the target set by the Ministry of Coal. Sharing the details of the ongoing projects he said a 3x660 MW thermal power plant is being set up at Ghatampur in Uttar Pradesh. The Rs 19,406 crore project is being set u

According to a regulatory filing by the company, the shareholders had sought clarification at the upcoming AGM of the company on June 27, 2023

The Hindustan Aeronautics Limited has an order book position of Rs 84,000 crore and another Rs 50,000 crore worth of orders are in the pipeline, its Chairman and Managing Director C B Ananthakrishnan said on Tuesday. He also said Argentina and Egypt have evinced interest in buying the HAL-built Light Combat Aircraft 'Tejas'. While Argentina's requirement is 15 aircraft, Egypt wanted a fleet of 20 LCAs, Ananthakrishnan told a press conference on the sidelines of Aero India 2023, Asia's largest air show underway at Air Force Station, Yelahanka here. "We are in a comfortable position today with an order of Rs 84,000 crore we are sitting on and orders in the pipeline are about Rs 50,000 crore," he said. Ananthakrishnan said indigenisation has been given thrust in line with Prime Minister Narendra Modi's emphasis on 'Atma Nirbhar Bharat'.

In a Q&A, Satyanarayan Goel, CMD of the exchange, dwells on the current and future power distribution scenario in India and his plans to set up an International Carbon Exchange

Kamdhenu Ventures, the paints business of Kamdhenu Group, will be listed on the stock exchanges BSE and NSE later this month. The paints division was separated from the steel business of the group last year for better management focus and operational flexibility, its CMD Satish Agarwal said, citing reasons for the demerger. There are plans to raise Rs 200 crore through multiple routes and expand the paints business post listing, the CMD said. The group also aims to garner a revenue of Rs 1,000 crore from the paints segment over the next five years, he said. "Kamdhenu Ventures has also issued 2,69,35,500 shares of Rs 5 each in the ratio of 1:1 towards the consideration for demerger to the shareholders of Kamdhenu Ltd having shares on 7th September 2022 being the record date," Group CFO Harish Agarwal said. The new venture had received the in-principle approval for listing from the BSE and NSE in November 2022, the CFO said. Kamdhenu has its paint manufacturing plant at Chopanki in

He is credited with diversifying the Peerless group into hospitality, healthcare and real estate. The group's turnover is about Rs 2,500 crore. In 2009, Roy received the Padma Shri

What lessons can Sebi learn from its U-turn on splitting CMD role?

Despite four years effort, Sebi's attempt to introduce global practice of keeping the offices of chairmen and MDs at companies separate in India didn't yield results. What does this about turn mean?

'There has been barely a 4% incremental improvement in compliance by the top 500 companies over the last two years,' says Sebi

Rising share of listed public sector companies don't have a single woman director

With a regulatory requirement for top-500 listed firms to split the position of chairperson and managing director being less than four months away, pressure is mounting on several PSUs

Earlier in FY19, Mehta's gross salary was reduced to Rs 18.88 crore.

Separation of the CMD post at listed companies: All you need to know

Tune in to the podcast, to know on the subject of separation of the CMD post at listed companies

State-run hydro power giant NHPC on Monday announced appointment of Abhay Kumar Singh as the company's Chairman & Managing Director from February 24, 2020. It is to inform that pursuance to Ministry of Power on February24, 2020, S Abhay Kumar Singhhas assumed the charge of Chairman and Managing Director of the company on February 24, 2020 till the date of his superannuation i.e. August 31, 2022, or until further orders, whichever is earlier in place of Ratish Kumar who was holding additional charge of the post of Chairman & Managing Director in addition to his duties as Director (Projects), NHPC said in a statement.

Appointment of a lead independent director might be a better option than mandating separation of the positions of chairperson and MD/CEO

Deadline extension for splitting CMD post is unfortunate

Move follows hectic lobbying by industry groups

Now, the date of implementation of the regulatory provision has been deferred to April 1, 2022, the regulator said in a notification without giving any reason for the move