Now, it is official. 58 years old Arup Roy Choudhury will no longer be Chairman & Managing Director after August 31 though he will attain the age of 60 a few months after.
“Orders for non-extension of tenure of Shri Arup Roy Choudhury, Chairman and Managing Director, NTPC beyond 31.08.2015 have been issued,” an information note issued by the Department of Personnel and Training on Saturday said.
He is the second Chairman of a Central Public Sector Enterprise (CPSE) after C S Verma of SAIL who have denied extension even having time to attain the age of 60 years. He will attain the retirement age of 60 years next year while Verma would have Verma would have attained retirement age of 60 in September 2019
Roy Choudhury was appointed CMD of NTPC with effect from September 1, 2010 for a period of 5 years, But there have been instances a CPSE CMD has been given extension if he has not attained the age of 60 years. He started his career in 1979 and known as the youngest Chairman of a CPSE when he took over as CMD of National Buildings Construction Corporation (NBCC) in 2001.
He is credited to add over added 13,000 mw of power generation capacity during his 5 year tenure. He managed to achieve this despite facing tough time first due to competition from the private sector and second payment problem due to due to poor financial health of the state-run power distribution companies. He also had to tackle fuel problem.
The Government has already constituted a search committee to find a replacement for Roy Choudhury. There are reports that Executive from Private Sector could be appointed as new CMD of power giant. Recently, for the first time, the Government appointed two Private Sector Executives as Managing Director & CEO of two large Public Sector Banks, Bank of Baroda and Canara Bank.