Monday, September 26, 2022

J Srinivasan takes charge as Director (Finance) of NLCIL

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New Delhi: Jaikumar Srinivasan has assumed charge as Director (Finance) of NLC India Limited (NLCIL) on Wednesday. Prior to his appointment, he was serving as Director (Finance) in Maharashtra State Electricity and Distribution Company Limited (MSEDCL) and MAHAGENCO state PSUs controlled by the government of Maharashtra.

Earlier, the PSU Watch had reported when Srinivasan was recommended by the Public Enterprises Selection Board (PESB) panel on September 26, 2019, and the Appointments Committee of the Cabinet (ACC) had approved his appointment on December 27, 2019.

Education & background

Srinivasan is a BCom graduate from the University of Nagpur and an associate member of Cost & Management Accountants of India. He was instrumental in achieving financial closure for all generation projects of MAHAGENCO which were commissioned between 2009-2014. He was part of the steering committee which successfully implemented SAP system in MAHAGENCO.

He has also served as a part-time Director in Mahuguj Colliery Company Limited, UCM Coal Company Ltd and other subsidiary companies of MAHAGENCO.

NLC India Limited

NLC India Limited, formerly known as Neyveli Lignite Corporation Limited is a ‘Navratna’ PSU company in the fossil fuel mining sector in India and thermal power generation. It was incorporated in 1956 and was wholly owned by the government of India. It annually produces about 30 million tonne lignite from opencast mines at Neyveli in the state of Tamil Nadu in southern India and at Barsingsar in Bikaner district of Rajasthan state. The lignite is used at pithead thermal power stations of 3,240 MW installed capacity to produce electricity. Its joint venture has a 1000 MW thermal power station using coal.

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