Government nominees on PSU boards fall to two
New Delhi: The petroleum ministry has restricted the number of government directors on boards of PSUs to two in a bid to remove the controversies that clouded the former petroleum minister, Mani Shankar Aiyar's term.

Ministry officials say the changes have been made to enable the companies to comply with legal provisions. The decision is in line with articles of association of various companies and Clause 49 of the listing agreement worked out by the SEBI, which states that a company's board should comprise 50 per cent independent directors in case it has an executive chairman. for companies with non-executive chairmen, only one-third of the board comprise independent directors.

Now, the two government nominees on the board of ONGC Videsh are the additional secretary (international co-operation), Talmiz Ahmed, and the joint secretary in the department of economic affairs, Arvind Mayaram.

Ahmed is no longer be on the boards of Engineers India and Balmer Lawrie and Co and has been replaced by Ravi Capoor in EIL and Maninder Singh in Balmer Lawrie.

The newly appointed additional secretary in the ministry, Anil Razdan has been nominated to the boards of three companies and replaces the petroleum secretary in ONGC, joint secretary, P K Sinha in GAIL (India), and joint secretary Prabh Das in IOC.

P K Sinha has replaced joint advisor C B Singh in HPCL, and economic advisor Aditi Ray in BPCL.

Ray has been nominated to the board of Numaligarh Refineries and Swami Singh on the board of Kochi Refineries.

Prabh Das has been appointed to the board of MRPL, replacing V P Joy, who along with Maninder Singh has been appointed to the board of Bongaigaon Refineries and Petrochemicals Ltd.

The directors in the ministry, A K Jain and Pramod Nangia, have been appointed to the board of IBP. Nangia replaces joint secretary Ajay Tyagi.

Ravi Capoor and Pramod Nangia are the two government nominees on the board of CPCL.
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TR Bhat is again AIPSBOF chief
Mangalore: T R Bhat, joint-general secretary of All-India Bank Officers' Confederation (AIBOC), has been re-elected president of the All-India Private Sector Bank Officers' Federation (AIPSBOF) for a period of three years.

Bhat was re-elected at the sixth all-India triennial conference of the federation at Coimbatore recently. AIPSBOF, a federation of officers' associations in various private sector banks, is a wing of AIBOC.
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