Friday, September 08, 2017

5 non-official directors appointed in EIL, OIL and Bharat Dynamics Limited; More on eligibility criteria

THE government has appointed five distinguished individuals as non-official directors in the board of three Central Public Sector Enterprises (CPSEs), two under the ministry of petroleum and one under the ministry of defence. The Appointments Committee of the Cabinet (ACC) on Thursday approved the proposal of appointing…
Chaman Kumar as non-official director in Engineers India Ltd (EIL) whereas Ms Amina R Khan will be the new non-official director in Oil India Ltd (OIL). The three non-official directors — Ajay Nath, KS Sampath and Ms K Latha Narashimhamurthy — were appointed in Bharat Dynamics Limited (BDL), a CPSE under the administrative control of the ministry of defence. All those five persons were appointed for a period of three years. 
According to the guidelines laid down by the department of public enterprises (DPE), retired government officials with a minimum of 10 years of experience at the joint secretary level or above; persons who have retired as CMD/CEOs of CPSEs; academicians/directors of institutes/heads of department and professors having more than 10 years teaching or research experience; professionals of repute having more than 15 years of relevant domain experience in fields relevant to the company's area of operation etc. are eligible for the post of non-official director in CPSEs. Further, former CEOs of private companies -- if the company is (a) listed on the stock exchanges or (b) unlisted but profit making and having an annual turnover of at least Rs 250 crore -- are also eligible to be non-official directors. Also, persons of eminence with proven track record from industry, business or agriculture or management and those serving CEOs and directors of private companies listed on the stock exchanges may also be considered for appointment as part-time non-official directors on the boards of CPSEs in exceptional circumstances.
The age band should be between 45-65 years; this could, however, be relaxed for eminent professionals, for reasons to be recorded, being limited to 70 years. Then, the non-official directors will not be re-appointed in the same CPSE after completing a maximum of two tenures, each tenure being for a period of three years. One person will not be appointed as non-official director on the boards of more than three CPSEs at the same time.
Meanwhile, in an unrelated development, 2001 batch Odisha cadre IAS Santhana Gopalan was on Thursday appointed as the assistant director general in Unique Identification Authority of India, Bengaluru. Also, the competent authority on Thursday bestowed the additional charge of the post of chairman, National Authority Chemical Weapons Convention (NACWC) to Dr Inder Jit Singh, a 1985 batch Kerala cadre IAS who is an additional secretary in the cabinet secretariat. 

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