Srivastava takes over as Nalco CMD

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Abhay Kumar Srivastava, the chairman and managing director of Cement Corporation of India (CCIL) today took over as CMD of navratna public sector unit, National Aluminium Company Ltd (Nalco).

Srivastava, a mechanical engineer by profession, took over from C R Pradhan, who retired as Nalco CMD yesterday. Before joining Nalco, Srivastava was heading CCIL, a Govt. of India Undertaking under ministry of Heavy Industries & Public Enterprises, as its CMD for about 5 years.

However, Srivastava’s appointment to the new post is not without its share of controversy as a shareholder has filed a petition in the Orissa High Court challenging his appointment to the post.

The petitioner pointed out that in the interview held for the post of Nalco CMD in 2007, C R Pradhan, who has been acting as the CMD in charge since February 2005, was empanelled as the number one candidate followed by A. K Srivastava in the second slot.

The panel was valid for one year.

Though the panel of name was finalised in October 2007, Pradhan’s appointment was delayed till 3 August 2009. On Pradhan’s retirement, the petitioner argued, fresh process of selection should have been started by the ministry of personnel, public grievances and pension and the Public Enterprises Selection Board (PESB) giving opportunities to all those candidates who had not qualified for the post in the earlier interview.

However, the PMO in violation of all the established guidelines and procedure appointed Srivastava, the second person from the panel as CMD, Nalco from 1 October 2009, long after the validity of the panel had expired, the petitioner pointed out.