New Delhi: Dr Navneet Mohan Kothari (IAS) has been appointed as Government Nominee Director of Indian Oil Corporation Limited (IndianOil), a Maharatna PSU under the Ministry of Petroleum & Natural Gas (MoPNG). He has been appointed on the board of IndianOil with effect from March 25. With this assignment, Kothari has replaced Ashish Chatterjee. The information has been shared by IndiaOil during a regulatory filing to the stock exchange on Thursday.
Dr Navneet Mohan Kothari has been appointed as Government Nominee Director on the Board of IndianOil. He is a 2001-batch Indian Administrative Services (IAS) officer of Madhya Pradesh cadre
Kothari’s brief profile
Dr Kothari is an IAS officer of 2001 batch of Madhya Pradesh cadre. He had worked in various departments in the government of Madhya Pradesh (MP) which includes Agriculture Cooperation & Farmer Welfare and Finance. MoPNG has confirmed that Dr Kothari is not related to any other Directors of the Company and not debarred from holding the office of Director by virtue of any order of SEBI or any other authority.
Indian Oil Corporation Limited (IndianOil)
Indian Oil Corporation Limited (IOCL), commonly known as IndianOil is an Indian government-owned oil and gas company headquartered in New Delhi. It is the largest commercial oil company in the country. It is ranked 1st in Fortune India 500 list for the year 2016 and 117th in Fortune Global 500 list of world’s largest companies in the year 2019. As of March 31, 2017, IndianOil’s employee strength is 33,135, out of which 16,545 are in the officer cadre. It is India’s largest downstream oil company, with a workforce of more than 33,000 employees, a turnover of Rs. 506,428 crore and a net profit of Rs. 21,346 crore in 2017-18.