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Sanjeev Singhal joins MDL as Director (Finance)

The Ministry of Defence had approved the appointment of Sanjeev Singhal as Director (Finance) of Mazagon Dock Shipbuilders Limited (MDL) on November 11 last year and he has taken charge on Wednesday
New Delhi: Sanjeev Singhal has assumed charge as Director (Finance) of Mazagon Dock Shipbuilders Limited (MDL), a PSU under the administrative control of the Ministry of Defence, on Wednesday. Prior to this, he was serving as Director (Finance) of Mishra Dhatu Nigam Limited (MIDHANI). Singhal had sought resignation from the post of Director (Finance) of MIDHANI, upon his appointment as Director (Finance) of MDL. The company (MIDHANI) has approved his resignation and relieved from his duties of directorship {in the capacity of Director (Finance) and Chief Financial Officer (CFO)} on Januaury 7, the company said in a regulatory filing to the stock exchange on Wednesday. PSU Watch has reported in August 2019 about Sanjeev Singhal being recommended for the post of Director (Finance) of MDL by a Public Enterprises Selection Board (PESB) panel from a list of four candidates on August 26. A total of two candidates who were on the list were from MDL and another candidate was from Mahanagar Telephone Nigam Limited (MTNL).

Backdrop

Singhal had joined MIDHANI as Director (Finance) on January 2017. He holds a distinction in B COM (Hons) from Delhi University and is a qualified Cost Accountant (CMA). Singhal is also a recipient of ‘Certificate of Merit’ from the Institute of Cost & Management Accountants of India. Prior to joining MIDHANI, he was working in Steel Authority of India Limited (SAIL), a Maharatana PSU under Ministry of Steel. He had a distinguished career at SAIL spanning over 29 years. He has wide experience in all major areas of finance. He had also spearheaded functions of project finance at SAIL’s Rourkela Steel Plant (RSP). He has vast experience in analysis, appraisal and evaluation of investment proposals, management of resources and capital budgeting. He was given ISO 9001 certification for the Finance function at SAIL’s RSP.