Govt appoints U P Singh as interim chairman of Oil India

The government today named U P Singh, a Joint Secretary in Oil Ministry, as the interim chairman of state-run Oil India Ltd, after appointment of a regular head was delayed because of questions being raised on the shortlisted candidate.
U P Singh, Joint Secretary (Exploration), Ministry of Petroleum and Natural Gas "assumed the additional charge of Chairman and Managing Director" today in place of S K Srivastava who superannuated yesterday, OIL said in a filing to the stock exchanges.
Singh was made acting chairman after questions were raised over selection of Rupshikha Saikia Borah, Director (Finance), OIL, to lead the company, by government headhunters Public Enterprise Selection Board (PESB).

PESB, which had in November last year found all candidates including Borah not suitable for the job, had in February this year shortlisted her after initiating the process afresh.
Sources said after her name was moved by the ministry for approval of the Appointments Committee of Cabinet (ACC), the Prime Minister's Office (PMO) sought to know what had changed between November and February that led to her selection.
While the queries raised by PMO were being addressed, Srivastava retired and the charge was handed over to the senior IAS officer.

Normally, in cases where appointment of a regular chairman is delayed, the interim charge is handed over to senior-most director on the company board.

In case of OIL, Borah, who is the wife of former OIL Chairman and Managing Director B C Borah, is the senior-most director. She had become Director (Finance) in October, 2013.
Sources said the ministry is reasoning that Borah was selected because there wasn't much choice left even after applications were invited afresh.
It remains to be seen if PMO would be satisfied with the reply and accept Borah's candidature or fresh search would be launched.