After prolonged sickness, the Asansol-based Eastern Coalfields (ECL), a mining subsidiary of Coal India (CIL), finally came out of BIFR in February. Barely three months later, procedural red tape left the company headless.

Chairman retires

Chairman Rakesh Sinha retired in May on superannuation and the Centre asked the Director Finance of CIL to take additional charge.

The decision came as a surprise as the Public Enterprises Selection Board (PESB) recommended Subrata Chakravarty, Director Technical of ECL as the next Chairman, as early as in October 2014. PESB also identified the second best candidate for the job.

While the fate of the PSEB recommendation is not known, the succession story got a spin in February, when, Sinha sought extension by virtue of his success in bringing the miner out of perennial sickness.

Seeks extension

A State-owned company Chairman is eligible to seek extension of retirement age by five years, for turning the company around. Andrew Yule Chief Kallol Datta got such extension in the recent past for achieving a similar feat.

However, any such move must be initiated a year in advance, before the government starts the process of selecting the successor. In contrast, Sinha joined the race three months before retirement.

According to sources, the Coal Ministry favoured Sinha’s request but failed to get it through.

While CIL officials refuse to comment on the issue, sources say the government will launch a fresh move to find a full-time Chairman for ECL.

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