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Tag Archives: CPSEs

Two more Non-Official Directors in BPCL & PFC

The NaMo Administration cleared the appointment of Non-Official Directors on the Boards of two state owned companies; Dr. Tamilsai Soundarajan was named for BPCL whereas Ms Gauri Chaudhary for Power Finance Corporation.

PESB to re-advertise the post of Dir (System Ops) POSOCO

The public sector headhunter (PESB) could not find any suitable candidate for the post of Director (System Operation) POSOCO. PESB interviewed as many as six candidates for the post but it decided to see more candidates. It is now expected that the post will be re-advertise soon. Of six candidates…

Appointment of six CVOs cleared

The NaMo administration on August 04 cleared the appointment of six CVOs in the rank of Joint Secretary. It may be noted thatoOn July 26 also the ACC had cleared the appointment of six CVOs. Of six CVOs appointed on August 04, one CVO belongs to Indian Police Service, two…

Rath selected for Director (Ops) RINL

The public sector headhunter on Tuesday selected Pradosh Kumar Rath for the post of of Director (Operations) Rashtriya Ispat Nigam Limited (RINL). rath currently serves as ED, RINL. Altogether seven candidates were interviewed by the PESB namely; K V Ramana Rao (ED, RINL); O R Ramani (ED, RINL); R Nagarajan…

Countdown starts for next CMD of Coal India; 06 candidates in race

  Come June 16 and Coal India Limited (CIL) may get its next CMD. As the selection process nears conclusion, speculation is rife about the ultimate winner for the post. The current CMD, Sutirtha Bhattacharya, retires on 01 September 2017. Indianmandarins has reliably learnt that approx 06 candidates may be…

‘Coal-week’ for PESB

It would be a ‘Coal Week’ for the public sector headhunter next week. Ever since it started (Feb last week) scheduling the selection interviews for board level posts in CPSEs, almost every working day it has been holding selection interviews. Not only for the PESB board members but Coal Secretary…

SAIL remains EBITDA positive

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  SAIL’s continual thrust on gaining operational excellence has led to the company remaining EBITDA positive for four consecutive quarters, which stood at Rs 671.6 Crore vis-à-vis Rs (-) 2,203 Crore over the corresponding period of last year, recording an increase of Rs. 2875 Crore. The Company has narrowed down…

Why did PESB cancel the selection interview for BCCL CMD?

Indianmandarins has reliably learnt that the public sector headhunter had to postpone the selection interview for the post of CMD, Bharat Coking Coal Ltd (BCCL) which was scheduled to be held on 18 May 2017. While the postponement of selection interview is not an unusual thing, the reason for which…

PESB yet to resolve two anomalous situations in shortlisting norms

The public sector headhunter (PESB) is engaged in a mammoth exercise to fill hundreds of accumulated board-level vacancies as the entire selection process has been disrupted from June 2016 till February 2017. Currently, board-level posts in CPSEs are being advertised every day since the last week of February but PESB…

CPSEs total income falls but total profit up: Facts & facets

Total income of all CPSEs during 2015-16 stood at Rs. 17,64,754 crore compared to Rs. 19, 65,657 crores in 2014-15, showing a reduction in income of 10.22%, according to the Public Enterprises Survey 2015-16 tabled in Parliament some time ago. The total profit of profit- making CPSEs stood at Rs….

PESB to come up with 60 more posts of MD/CMD & Directors

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Indianmandarins has reliably learnt that the public sector headhunter is working hard to fill as many 108 board level positions in a stipulated time-frame. Reportedly, out of these 108 posts, 32 are MD/CMD level posts. It may be noted that for want of revision and approval of revised criteria for…

Women find no place on boards of 65 PSUs

As many as 65 PSUs have failed to appoint at least one woman director on their boards versus 1,355 private listed firms in default. So the government has asked the Registrar of Companies to take up the matter with the ministries concerned and initiate penal action against both PSUs and…

PSU disinvestment target to be met

The Centre is expected to meet its disinvestment target for the first time. Officials estimate that disinvestment would bring in receipts of at least Rs44,000 crore, if not the full targeted amount of Rs 45,500 cr. To meet the target, the Centre has relied more heavily on share buybacks and…

PESB takes MD & CMD posts on priority: 16 posts advertised including ONGC CMD post

  Even as hundreds of board-level posts remain vacant,  there will be more scheduled vacancies in coming months, adding to the task of PESB which appears desperate to fill the top posts (MD & CMD) first. Immediately after DOPT, on 22 February 2017, issued the criteria for the selection of…

Maharatna CMD regularized by default; Min kept following procedure

A CMD of a Maharatna completed one year on 31st December 2016 which required his performance appraisal and approval by the ministry for confirmation. The department moved the file. Since, accidentally, some officers in the chain of command were on leave, the completion of the process was delayed. By the…

MMTC: How preventive vigilance cleaned up Augean stable

MMTC is being used as a test case for determining the efficacy of what has been called preventive vigilance, whereby a series of actions are initiated to stem the downward movement in the functioning of a PSU. Through this mechanism, ever since the appointment of Sanjay Bhoosreddy (IAS:1989:UP) as chief…

50 Central PSUs to be listed

As many as 50 state-run companies may be listed shortly as the government has put out rules and guidelines for biggest-ever plan to invite public participation in its profit-making enterprises. It will also bring down shareholding in already listed firms to 75%. On Friday, the department of investment and public…

Orientation course organized for independent directors on PSU boards

Mrs. Seema Bahuguna, Secretary, DPE, Dr. Madhukar Gupta, Additional Secretary, DPE, and Dr. Anoop Kumar Mittal, CMD, NBCC (India) Ltd. inaugurated earlier this week a two-day Orientation Programme on “Capacity Building of (non-official) Independent Directors of the CPSEs” in New Delhi. The programme was organised jointly by the Department of…

Divestment to widen PSU ownership, says DIPAM Secretary

  SCOPE organized a two-day Seminar on “Emerging Paradigms in Financial Communication and Investor Relations. Inaugurating the seminar, Neeraj Kumar Gupta, IAS, Secretary, DIPAM said the objective of PSU disinvestment is to widen the ownership in PSEs. The  government will provide  handholding to PSEs to reach out to prospective investors…

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