The Hindu Business Line : `Not in fray for ONGC top post'

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New Delhi Feb. 15 Mr R.S. Sharma, Director (Finance), ONGC, who holds additional charge as Chairman and Managing Director of the State-owned company, said on Thursday that he would not offer his candidature for the post again.

Stating that he respected the verdict of the Government and would respectfully abide by its decision, he told Business Line that "based on the current development I feel it would not be appropriate for me to offer my candidature again."

Last week, the Appointments Committee of Cabinet, which is the final authority on appointments, had turned down the panel of names proposed by the Public Enterprise Selection Board (PESB) for the post of CMD ONGC. Mr Sharma would continue to hold the additional charge of CMD up to May 31, or until a regular incumbent is appointment, whichever is earlier.

Meanwhile, as per the directions of the ACC, the composition of the selection committee, which would recommend the name of the potential candidate for the CMD of the PSU, is also set to undergo a change. Indications are that besides the Petroleum Secretary, two outside experts, Mr Vijay Kelkar and Mr Bakul Dholakia, are tipped to be part of the committee. Besides, the committee will also have two PESB nominees.

The ACC had asked the Petroleum Ministry to obtain the approval for the composition of this search and selection committee within a week. While turning down the panel recommended by PESB, the ACC had however not debarred Mr Sharma from consideration. It wanted the entire process to be completed within three months.

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