New Delhi: Sanjay Malhotra (IAS) is new Chairman & Managing Director (CMD) of REC Limited, as he assumed charge of the post on Monday. Prior to this assignment, Malhotra was serving as Additional Secretary in the Ministry of Power. This information has been shared by the REC Limited during a regulatory filing to the stock exchange on Monday. Earlier, the Appointments Committee of the Cabinet (ACC) had approved Malhotra's appointment on November 3. Before the Malhotra's appointment, REC Limited's Director (Technical) Sanjeev Kumar Gupta was holding the additional charge of the CMD post.
Malhotra is a 1990-batch Indian Administrative Service (IAS) officer of Rajasthan cadre. Prior to joining as Additional Secretary in the Ministry of Power, he was serving as Secretary in the state government of Rajasthan.
He is an Engineering Graduate in Computer Science (B Tech) from the Indian Institute of Technology, Kanpur. He has varied experience spanning almost 31 years in the state & central governments and United Nations Industrial Development Organization (UNIDO) in various capacities in sectors including power, finance, taxation, e-governance and mines. As Additional Secretary in the Ministry of Power, he was looking after transmission, distribution, reforms and restructuring, operation and monitoring, national electricity policy, tariff policy, CERC, APTEL, JERCs, etc.
REC Limited, formerly Rural Electrification Corporation Limited, is a Navratna PSU under the Ministry of Power. The company finances and promotes rural electrification projects across India. The company provides loans to the Central and state sector power utilities, State Electricity Boards, Rural Electric Cooperatives, NGOs and private power developers.
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