Comments
Five independent directors of Mangalore Refinery and Petrochemicals Ltd (MRPL) have ceased to become directors.
The company informed stock exchanges on Monday that the five non-official part-time directors — CL Shah, Neela Gangadharan, Usha Kiran Rai, Jayant M Modak and Capt John Prasad Menezes — have ceased to be directors on the company’s board.
It may be mentioned here that the Union Ministry of Petroleum and Natural Gas, in its order dated October 22, 2013, had appointed the above-mentioned five as independent directors. The company had informed this to the stock exchanges on October 23, 2013.
These appointments had taken place after the 25th annual general meeting of the company on September 23, 2013. Their appointments were to be ratified in the 26th AGM on September 13, 2014. However, the company did not move a resolution seeking the confirmation of these appointments at the AGM.
Now, the board of the company is headed by DK Sarraf as Chairman and H Kumar as Managing Director. Vishnu Agrawal is Director (Finance) and VG Joshi is Director (Refinery). P Kalyanasundaram is the nominee director from the Union Ministry of Petroleum and Natural Gas and BK Namdeo is the nominee director from HPCL.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.