NOMINEE DIRECTOR

ongc-aggarwal-appointed-as-govt-nominee-director

ONGC: Aggarwal appointed as Govt Nominee Director

Rajesh Aggarwal (IAS:1989:MH) has been appointed as Government Nominee Director of ONGC (w.e.f. 24.03.2020); a Maharatna PSU under the Ministry of Petroleum & Natural Gas. Aggarwal had recently replaced Rajiv Bansal (IAS:1988:NL) as who is currently serving as Additional Secretary & FA in MoPNG. The information was also shared by the Oil PSU in a regulatory filing to the stock exchange on Wednesday.

27 Mar 2020
iocl:-kothari-appointed-as-government-nominee-director

IOCL: Kothari appointed as Government Nominee Director

Dr Navneet Mohan Kothari (IAS:2001:MP) has been appointed as Government Nominee Director of Indian Oil Corporation Limited (w.e.f. 25.03.2020); a Maharatna PSU under the Ministry of Petroleum & Natural Gas (MoPNG). He had recently replaced Ashish Chatterjee (IAS:1999:TN) as Joint Secretary, MoPNG.

27 Mar 2020
ongc-aggarwal-appointed-as-govt-nominee-director

ONGC: Aggarwal appointed as Govt Nominee Director

By IndianMandarins 27 Mar 2020

Rajesh Aggarwal (IAS:1989:MH) has been appointed as Government Nominee Director of ONGC (w.e.f. 24.03.2020); a Maharatna PSU under the Ministry of Petroleum & Natural Gas. Aggarwal had recently replaced Rajiv Bansal (IAS:1988:NL) as who is currently serving as Additional Secretary & FA in MoPNG. The information was also shared by the Oil PSU in a regulatory filing to the stock exchange on Wednesday.

iocl:-kothari-appointed-as-government-nominee-director

IOCL: Kothari appointed as Government Nominee Director

By IndianMandarins 27 Mar 2020

Dr Navneet Mohan Kothari (IAS:2001:MP) has been appointed as Government Nominee Director of Indian Oil Corporation Limited (w.e.f. 25.03.2020); a Maharatna PSU under the Ministry of Petroleum & Natural Gas (MoPNG). He had recently replaced Ashish Chatterjee (IAS:1999:TN) as Joint Secretary, MoPNG.

mrs-esha-appointed-as-government-nominee-director-on-gail’s-board

Mrs Esha appointed as Government Nominee Director on GAIL’s Board

By IndianMandarins 26 Mar 2020

Mrs Esha Srivastava, a 2004 batch Indian Foreign Service officer, was on Thursday appointed as a Government Nominee Director on the Board of Directors of Gas Authority of India Limited (GAIL), a Maharatna PSU under the Ministry of Petroleum & Natural Gas (MoPNG). Presently, she is Director (International Cooperation), MoPNG.

cpses:-appointment-of-190-independent-directors-awaiting-acc-clearance

CPSEs: Appointment of 190 Independent Directors awaiting ACC clearance

By IndianMandarins 28 Nov 2019

If well-placed sources are to be believed the proposal for appointment of approx. 190 Independent Directors (IDs) on the Board of various Central PSUs are pending since April 2019. Amid huge number of pending vacancies IDs are being given extension for 3 months as ad hoc measures. Reportedly, the sanctioned strength of IDs on CPSEs’ Board is 680 of which one third of Independent Directors complete their tenure every year and thus create more than 200 vacancies on the Boards of various CPSEs every year.

It may be underlined that Independent Directors in relation to a company means a director other than a MDs, Full-time Director or a Nominee Director. They constitute such category of Directors who are expected to have impartial and objective judgment for the proper functioning of the company.

As per Section 149(6) of the Companies Act, 2013 at least 1/3rd of total number of Directors shall be ID’s in case of Public listed companies having a paid up share capital of  Rs100 crore or more; Or Public companies which have outstanding loans or borrowings or debentures or deposits exceeding Rs 200 crore.

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