The government has terminated the services of state-owned Nalco's suspended chairman and managing director A K Srivastava with effect from December 11, the company today said.
"The President of India has terminated the services of Abhay Kumar Srivastava as chairman-cum-managing director (under suspension) of the company with effect from December 11, 2012 vide order dated December 11, 2012 of Ministry of Mines, Government of India," Nalco said in a filing to the BSE.
Bhubaneswar-based National Aluminium Company (Nalco) has been without a regular chief since February 2011 after CBI arrested Srivastava on charges of taking bribe.
The Mines Ministry then suspended him and handed over the charge on temporary basis to the senior most company official, B L Bagra. Later, Srivastava was removed from Nalco's Board as well.
Presently company's Director (Commercial) Ansuman Das is heading the company as its acting chairman and managing director.
With the termination of Srivastava's services, government will now look for appointing a full time chairman for Nalco -- Asia's largest aluminium producer and a Navaratna PSU.
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