Look for NTPC CMD to continue as PESB does not find suitable candidates company Business News

New Delhi: The Public Enterprise Selection Board (PESB) found that none of the 12 candidates suitable for the role of chairman and managing director (CMD) of India’s largest power producer NTPC LTD, and asked the Power Ministry to look at options, including a search Cum selection committee. After interviewing the 12 candidates, the Headhunter met for state -owned companies to choose the next CMD on Wednesday. “The board recommended no candidate for the post and advised the administrative ministry/department to select an appropriate course of further action for selection, including the Search Cum Selection Committee (SCSC), or deemed appropriate with the approval of the competent authority,” said a notice of the PESB. The candidates surveyed included three NTPC drivers – Shivam Srivastava, Director (Fuel); Ravindra Kumar, director (operations); and Shaswattam, executive director at NTPC. Somes Bandyopadhyay, the managing director of Gujarat State Electricity Corp. Ltd. on NTPC deputation, was also questioned. The other candidates were Bhupender Gupta, director (technical), ThDC India Ltd; Kapil Kumar Gupta, Director (Finance), MMTC Ltd; Mukesh Choudhary, Director (Marketing), Coal India Ltd; Ajit Kumar Panda, Director (Project and Services), Container Corp. or India Ltd; Thangarahan Subash Chandira Bosh, executive director and CEO, REC Power Development & Consultancy Ltd; Rajil Srivastava, Executive Director, Asset Management, Power Grid Corp. of India Ltd; Sanoj Kumar Jha, additional secretary, Union Ministry of Coal; and Abhay Arun Harne, Director (Projects), Maharashtra State Power Generation Corp. Ltd. The tenure of the current NTPC CMD Gurdeep Singh ends on July 31. Since PESB cannot choose the next CMD, it can be a long -signed process. Managers from both public and private sector enterprises can apply for these posts. According to the current norms, PESB sends to the shortlist of candidates of the applicants and an interview with them, a recommended name to the Cabinet (ACC) appointment committee, which makes the final decision on the appointment. Usually, when the PESB recommends no candidate, the ministry concerned forms a committee for search-and-selection that invites applications again. “The selection process needs to be improved as they ask for five or six candidates of the same PSU in terms of seniority, with the minimum of two years remaining service and for an external candidate, the requirement is about 3 years of the remaining service. ”Says AK Singh, former CMD of NHPC. Gurdeep Singh, who was also selected by a Search and Choices Committee in 2016, received an extension of five years in 2020. His tenure was the pivot of the coal -based generator versus green energy. With a target of 60GW renewable energy by 2032, its subsidiary NTPC Green Energy Ltd. in November last year was listed on the stock exchanges. It also undertook to set up India’s first green hydrogen in Andhra Pradesh with a projected investment of £ 1.8 trillion. Power plans NTPC’s incoming CMD will have to play a major role in expanding the NTPC Green portfolio and the construction of the CEO in Pudimadaka, Andhra Pradesh, while the growth of thermal power capacity is ensured in the midst of the renewed pressure of the government to meet the stability of the power. Another important task for the new NTPC CMD would be to consolidate the company’s position in the nuclear power space, where it searched. In May 2023, it had a joint enterprise agreement with Nuclear Power Corp. of India Ltd for nuclear power plants signed. NTPC has big plans in the core space through independent projects, along with the development of small modular reactors through global partnerships. On a consolidated basis, NPTC’s total revenue in FY24 was £ 1.81 trillion, 2% higher than the total revenue of £ 1.77 billion. The market cap is currently £ 3.35 trillion.