New Delhi: The Board of Directors of state-run Mahanagar Telephone Nigam Ltd (MTNL) has re-appointed PK Purwar as Chairman & Managing Director (CMD) of the telecom PSU. Purwar is currently CMD of Bharat Sanchar Nigam Ltd (BSNL). He assumed additional charge as CMD of MTNL in April 2020. MTNL was merged with BSNL and turned into a wholly-owned subsidiary of the company as part of the revival plan announced by the government for BSNL. This is the fourth time Purwar has been given charge of the post of MTNL's CMD in the last six years. The decision was taken in the board meeting held on December 31, 2020.
In a regulatory filing to the stock exchanges on Wednesday, MTNL said, “PK Purwar (DIN 06619060) who was appointed as an Additional Director by the President of India vide DoT letter no. E-2-2/2019-PSA dated 13.04.2020 on the Board of the company in terms of section 161 of the Companies Act 2013 and Article 66 (D) of the Articles of Association and who holds office upto the date of 'AGM of the company in terms of section 161 of the Companies Act 2013 but eligible for appointment and has consented to act as a director and in respect of whom the company has received notice in writing, from the director himself u/s 160 (1) of the Companies Act 2013 proposing himself for the office of the director of the company be and is hereby reappointed as Director of the company.”
Purwar is a 1990-batch officer of the Indian P&T Accounts and Finance Service. He worked in various positions both at the field level and the corporate office in the Department of Telecommunications (DoT) and BSNL. He holds a Master’s degree in Commerce from Allahabad University and is a qualified Chartered Accountant.
Mahanagar Telephone Nigam Limited (MTNL)
Mahanagar Telephone Nigam Limited (MTNL) is a state-owned telecommunications service provider and a wholly-owned subsidiary of BSNL, headquartered in New Delhi. MTNL provides services in the metro cities of Mumbai and New Delhi in India and in the island nation of Mauritius in Africa. The company had a monopoly in Mumbai and New Delhi until 1992 when the telecom sector was opened to other service providers. The government of India currently holds 57 percent shares in the company with the rest being held by public and institutional investors.
(PSU Watch- India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)