At present, Vice Admiral Singh is serving as the Flag Officer Commanding in Chief (FOC-in-C) of the Eastern Naval Command in Visakhapatnam, and he will take charge as Navy Chief on May 31, the defence ministry said.
Besides Verma, the other contenders for the Navy Chief's post included Vice Chief of Naval Staff Vice Admiral G Ashok Kumar, FOC-in-C of Western Naval Command Vice Admiral Ajit Kumar and FOC-in-C of Southern Naval Command Vice Admiral Anil Kumar Chawla, the sources said.
While appointing the Army Chief in 2016, the government did not follow the long-held tradition of going by the seniority.
Singh, who a graduate of Defence Services Staff College, Wellington and College of Naval Warfare, Mumbai, hails from Jalandhar and a recipient of Param Vishisht Seva Medal (PVSM) and the Ati Vishisht Seva Medal (AVSM).
In his career spanning over 37 years, the Admiral has commanded four ships -- Indian Coast Guard ship Chandbibi, missile corvette INS Vijaydurg, guided missile destroyers INS Rana and INS Delhi.
Singh has also served as the Fleet Operations Officer of the Western Fleet.
In the rank of Vice Admiral, he was also the Director General of Project Seabird, looking after infrastructure development of the Navy's modern base at Karwar.
The Navy Chief retires after a three-year tenure or attaining 62 years of age, whichever is earlier.