Millennium Post

PowerMin asks DoPT to begin fresh selection process for NHPC head

Power Ministry has approached Department of Personnel and Training (DoPT) to commence fresh selection process for the top post in state-run NHPC, which is gearing up for its proposed buyback of shares worth over Rs 2,000 crore.

In a letter to Department of Personnel and Training , under the Ministry of Personnel, Public Grievances and Pensions, Ministry of Power has said that the two names - A B L Srivastava, director (finance) NHPC and J K Sharma, director (projects), NHPC - which were shortlisted for the post, should be removed and a fresh selection process should be done.

‘The names of Srivastava and Sharma were shortlisted but none of them have been cleared by CVC (Central Vigilance Commission) and it has been over a year now. We want fresh selection now,’ a Power Ministry official said. The company has been unable to find a permanent chief executive since January 2011. The company would offer a buyback not exceeding 123,00,74,277 fully paid up equity shares of face value of Rs 10 each at a price of Rs 19.25 on a proportionate basis through the Tender Offer Process.
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