LIC, United India Insurance, Oriental Insurance and Agriculture Insurance Co are without fulltime heads for months
GN Bureau | December 6, 2016
After a long wait, the finance ministry has completed the interview process to select two managing directors of LIC and the heads of three general insurance companies, United India Insurance, Oriental Insurance and Agriculture Insurance Company, the Indian Express reported Tuesday.
These four public sector insurers have been without a fulltime chairman for several months. The ministry had carried out interviews for the two MD posts before declaring the results of the interviews for selecting the chairman and one MD of LIC conducted earlier.
The ministry had conducted a similar exercise for the posts of chairman and MD of LIC, but the outcome is still awaited.
In September, LIC MD VK Sharma, the top contender for the chairman’s post, was given additional charge as chairman, when SK Roy was relieved of his duties. Roy resigned in June, nearly two years ahead of his retirement.
In order to resolve a tax-dispute between Indian Oil Corporation Limited (IOCL) and government of Odisha, a meeting was held between minister of state (I/C) for petroleum & natural gas Dharmendra Pradhan and Odisha chief minister Naveen Patnaik in New Delhi. During the meeting, Pradhan
Steel Authority of India Ltd. (SAIL) chairman, PK Singh, during his recent visit to SAIL’s Rourkela Steel Plant (RSP), laid emphasis on product differentiation and said the enterprise has to match the best in quality, variety and standards. “In the present circumstances, only th
Bharat Heavy Electricals Limited (BHEL) has added another feather to its cap by securing export orders from Chile and Estonia. This has helped BHEL to expand and consolidate its footprint in the international market. With maiden orders for transformer bushing from Niquel Electric Ltd, Chile
India uses a mix of two systems in elections. The first-past-the-post system is used in the elections to the Lok Sabha as well as the state assemblies, while proportional representation is used during Rajya Sabha and presidential polls. Now, an all-party Parliamentary panel
Martin Shkreli, a former hedge fund manager who is infamous for overnight spiking up the price of a lifesaving drug by 5,000 percent, was convicted on three counts of fraud in an American federal court on August 4. Shkreli is now staring at an incarceration period of up to 25 years. The order cheered up
The Comptroller and Auditor General (CAG) has noticed irregularities in the way the income tax department (ITD) carried out the assessment of Zero Tax Companies. Several companies that were having large profit from business and distributing substantial portion of the income