Extension denied to Vasudeva, ONGC to get new chief

Prime minister Manmohan Singh clears name of D K Sarraf for top post. Sarraf to assume charge from March 1

GN Bureau | February 27, 2014



State-run explorer ONGC is all set to get a new chairman and managing director Dinesh Kumar Sarraf after prime minister Manmohan Singh cleared his name for the post on Wednesday. A proposal to extend the term of incumbent Sudhir Vasudeva by oil minister Veerappa Moily was denied by the PM, according to newspaper reports.

Sarraf, 56, is the managing director of ONGC Videsh, ONGC's overseas acquisitions arm, and will take over from Vasudeva who retires on February 28.

The appointment committee of cabinet (ACC) had decided in favour of Sarraf, who was recommended by the government headhunter the public enterprises selection board (PESB) in August last year. ACC, which is headed by the PM, declined Moily's recommendation of giving an extension to Vasudeva against whom there are some pending vigilance cases.

In a statement issued on Wednesday, oil ministry said the extension of Vasudeva was recommended by Moily “purely on merit and in the interest of the organisation.” However, some ONGC board members had questioned the rationale.

PESB had chosen the head of ONGC's foreign arm, Sarraf, as the new chairman after he outperformed three other candidates for the most coveted job in the public sector. Sarraf was appointed as the managing director of ONGC Videsh two years ago to succeed R S Butola. Before moving to ONGC Videsh, Sarraf had worked as the director (finance) in ONGC for about four years.

Comments

 

Other News

The training advantage

It’s a sultry March afternoon and students at a municipal school in Santacruz East are engrossed in their lecture. It’s 4 pm already but the training session in the mobile repairing course is in full swing. Twenty-four boys and four girls of class IX are in the last leg of their course before t

App aid for healthcare

Courier services and sales teams have soared into efficiency using smartphone apps to monitor deliveries, visits, timeliness and performance. Taking a leaf from their book, Gujarat is equipping accredited social health activists (ASHAs) and midwives with smartphones and an app to bring down infant and ma

Government divests 12% stakes in RITES; IPO opens on June 20

The railway infrastructure consulting PSU, RITES Limited is coming up with its IPO on June 20, 2018, as the government of India is selling its 24 million equity shares (12%) stake in the Mini Ratna PSU. As an initial public offering 25,200,000 equity shares are offered in which employee reservation portion

“This initiative is for future generations”

Speaking to Governance Now, Gujarat chief minister Vijay Rupani elaborates on the Sujalam Sufalam scheme to rejuvenate talavdis and desilt reservoirs and lakes. He also speaks on water, politics, and cons

Water by the pondful

It’s 10 am and in Dhandhuka town of Ahmedabad district, the sun is already scorching. A dry lake, which was desilted and deepened a few weeks back, has been turned into a venue for a fete. Shamianas have been erected, women in bright sarees and men and children in their best clothes flock the venue,

Thugs of Hindustan

This story may sound apocryphal but it was recounted by LK Advani in one of his casual conversations. Talking about Morarji Desai, he said that despite his idiosyncrasies, he was a man of impeccable integrity. To buttress his point Advani recalled this incident: After the Janata Party formed the government

Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter