Friday, June 24, 2022

Power Grid announces appointment of Independent Directors on its Board

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New Delhi: Maharatna power PSU Power Grid Corporation of India Limited (PGCIL) has announced the appointment of three Independent Directors to its Board on Tuesday. According to Power Grid, Omkarappa KN, Ram Naresh Tiwari and Chetan Bansilal Kankaria have been appointed as Part-Time Directors (Independent Directors) on the Board of the company with effect from November 15.

“Ministry of Power, vide three separate orders dated November 15, 2021, communicated appointment of following persons as Non-Official Part-Time Directors (Independent Directors) on the Board of the company for a period of three years w.e.f the date of notification of their appointment or until further orders: 1. Omkarappa KN, 1. Ram Naresh Tiwari and 3. Chetan Bansilal Kankaria,” Power Grid informed the stock exchanges in three regulatory filings on Tuesday.

Currently, there are a total of five functional directors, two Government Nominee Directors and one Independent Director on the board of Power Grid.

Power Grid is a Maharatna PSU under the Ministry of Power. It was incorporated with the mission of establishment and operation of regional and national power grids to facilitate the transfer of electric power within and across regions with reliability, security and economy on sound commercial principles. The company employed 8,766 regular employees as of March 31, 2021. The authorised and paid-up capital of the corporation was Rs 10,000 crore and Rs 5,231.59 crore, respectively, as on March 31.

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