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Bhalla, 57, had slipped into coma after suffering a heart attack more than two years back. Since then he was in hospital and died yesterday.
"Sudhir Bhalla, Director (Human Resource) on the Board of Indian Oil Corporation Ltd, passed away on May 22, 2014 and consequently ceased to be a Director on the Board of IOC," the company said in a filing to the stock exchanges.
Company sources said Bhalla was the second senior most director on IOC board, having become director in October 2010. He would have retired from service in September 2016.
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