New Delhi: The Public Enterprises Selection Board (PESB) has not recommended any candidate for the post of Chairman and Managing Director (CMD) of Yantra India Limited (YIL) following its selection meeting held on May 16.
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According to the PESB notice, the Board advised the Administrative Ministry/Department to choose an appropriate course of further action for the selection process, including the option of constituting a Search-cum-Selection Committee (SCSC) or any other suitable mechanism with the approval of the competent authority.
The selection meeting for the Schedule ‘A’ post was conducted on May 16. Three candidates were interviewed for the top post at Yantra India Limited.
The candidates interviewed included Kundan Singh, Executive Director in the Department of Defence Production; Surendra Dhapodkar, Senior Deputy Director General in the Department of Defence Production; and Shiva Shankar Prasad, Chief General Manager in the Department of Defence Production.
Yantra India Limited is one of the seven Defence Public Sector Undertakings (DPSUs) created after the corporatisation of the erstwhile Ordnance Factory Board (OFB) in October 2021. Headquartered in Nagpur, the company operates under the Department of Defence Production and is engaged in the manufacturing of ammunition hardware, metal and steel components, carbon fibre composites, aluminium alloys and components for artillery systems, armoured vehicles and main battle tanks.
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The defence PSU was recently granted Miniratna Category-I status by the Ministry of Defence in recognition of its transformation into a profit-making entity. The status allows the company’s board to approve capital expenditure proposals of up to Rs 500 crore without seeking prior government approval.
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