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ACC appoints Lalit Kumar Gupta as Director (Finance) of Cotton Corporation

Lalit Kumar Gupta, who was recommended by the PESB panel, has been appointed as Director (Finance) of Cotton Corporation of India (CCI)

New Delhi: The Appointments Committee of the Cabinets (ACC) has approved the appointments of Lalit Kumar Gupta as Director (Finance) of Cotton Corporation of India (CCI), a Miniratna PSU under the Ministry of Textile. According to an order issued on April 28, Gupta has been appointed on the post for a period of five years with effect from the date of assumption of charge of the post, or until further orders, whichever is earlier. He is currently serving as Chief General Manager in the same organisation.

Earlier, PSU Watch had reported that Gupta was recommended for the post of Director (Finance) of CCI Limited by a PESB panel on January 27. He was selected for the post from a list of two candidates who were interviewed by the selection panel.

Education & Background

Gupta has completed his MBA in Marketing from ITM Business School of Navi Mumbai. He is a Chartered Accountant (CA) of the Institute of Chartered Accountants of India (ICAI). He is also a member of the Institute of the Company Secretaries of India (ICSI). He has a rich experience in the Finance and related sector. Gupta has a very long association with Cotton Corporation of about 25 years. He joined CCI in August 1994.

Backdrop

The post of Director (Finance) of CCI is vacant since July 2019, after PK Agarwal who serving as Director (Finance) was moved to a senior position as Director (Marketing) of the organisation. In addition to this joining the PESB also had recommended Agrawal for the post of Chairman & Managing Director (CMD) of CCI, in its earlier recommendation.

Cotton Corporation of India Limited

The Cotton Corporation of India Limited (CCI) is a government agency, engaged in diverse activities related to trade, procurement, and export of cotton. CCI is a public sector agency responsible for equitable distribution of cotton among the different constituents of the industry and aid imports of cotton. It was incorporated on July 31, 1970, under the Companies Act 1956.