Bi-monthly newsletter of CII on public sector enterprises covering news, analysis, sectoral trends and CII's activities.

1. PSE
Newsletter
The Bi-Monthly Newsletter
January 2014 • Vol 5 No. 1
From the Chairman’s Desk . . .
Dear Colleagues,
W
elcome
to the January
2014 edition of
the newsletter of
the CII Council
on Public Sector
Enterprises.
This
year
promises to be
eventful for the PSEs in more than
one way. We are seeing initial signs
of rebuilding of confidence among
businesses and industry. RBI also in
its latest assessment has indicated a
gradual recovery. There are some green
shoots that are emerging in terms of
macro environment also.
With GDP growth hovering around
5%, the year 2014 comes with a host
of challenges for not only the public
sector but the industry as a whole.
PSEs have been a source of financial
support to the government throughout
the bygone year in an environment full
of uncertainty and subdued sentiment.
The overall capital investment during
April-June period of the year 2013-14
was actualised to the extent of 94% of
the annual target.
Going forward, the economy over
medium to long term is likely to benefit
from the expeditious implementation
of the approvals accorded by CCI
to fast track the held up projects,
domestic structural reforms in the
direction of easing some supply-side
constraints, export growth due to
positive trends seen in global economy
and an expected re-look by RBI into
its monitory policy.
CII PSE Council co-organized CII
Global PSE Summit along with the
Department of Public Enterprises,
Ministry of Heavy Industries and
Public Enterprises to initiate the
next phase of PSE reforms in the
country to enable them to become
multinationals, meeting the associated
challenges successfully for their
own growth as well as the country’s
development in the emerging global
scenario. Hon’ble President of India,
while inaugurating the Summit on
13th December 2013 in Vigyan
Bhawan New Delhi, observed “As vital
members of a thriving industry sector,
PSEs must drive overall industrial and
economic growth and to meet the
demands of the market in a responsive
manner”. It is therefore a compelling
requirement for the PSEs to focus on
technology development, innovation
and development of new products to
enhance their competitiveness to enter
new markets and to promote growth.
Hon’ble Union Minister for Heavy
Industries and Public Enterprises, Shri
Praful Patel, addressing the inaugural
session appreciated the commendable
role played by the PSEs in nation
building and upheld that that both
the public and private sectors are now
contributing together in economic
development of the country. It was
felt across the board that reworking
of the HR strategies & compensation
structures at par with the private sector
along with quicker decision making
are the imperatives for sustained long
term success for the CPSEs.
Notwithstanding
the
multiple
constraints, the public sector in India,
has often been the innovation leader
in building the country’s image as an
emerging global power. For instance,
ISRO pioneered the launch of an
indigenous Polar Satellite Launch
Vehicle-C25 (PSLV-C25) to Mars
in November last year and the
Geosynchronous Satellite Launch
Vehicle D5 (GSLV) in January 2014
where, many of our CPSEs played a
role in supplying critical components.
PSEs have also been a source of
employment to thousands of aspiring
job seekers despite subdued economic
environment when private sectors
have taken recourse to downsizing
their manpower strength and fresh
recruitments are almost stalled. PSEs
have shown an increasing trend in the
generation of internal resources where
50% of the total capital formation of
the country was contributed by the
public sector alone.
At this juncture Government needs
to take a fresh look on the ownership
of CPSEs in the line of ‘Roongta
Committee’ recommendations to
enable these veritable growth engines
of economy focus on global scale in
strategic sectors and play a leadership
role in the international level.
Sincerely,
B Prasada Rao
Chairman, CII Council on PSEs
& CMD, Bharat Heavy Electricals Ltd
Inside this Issue
From the Chairman’s Desk…................1
CII Global PSE Summit........................2
PSE News Update...................................7
CSR Initiatives......................................11
Appointments........................................13

2. GLOBAL PSE SUMMIT
Giving a power punch to PSEs
{L to R , Mr M Narayana Rao, CMD, MIdhani & Chairman of steering Committee on PSE Global summit, Mr O P Rawat,
Secretary, DPE, Mr Praful Patel, Minister, HI & PE, Hon’ble President of India, Mr S Gopalakrishnan, President , CII, Mr B P
Rao, CMD, BHEL & Chairman , CII PSE Council, Mr Chandrajit Banerjee, DG, CII}.
T
he key challenge for Indian
Public Sector Enterprises
(PSEs) is to increase
competitiveness, said Mr Pranab
Mukherjee. More reforms needed to
be undertaken, observed the Hon’ble
President of India while inaugurating
the Global PSE Summit organised
by CII in association with the
Department of Public Enterprises,
Union Ministry of Heavy Industries
and Public Enterprises, in New
Delhi on 13 December.
Union Ministry of Heavy Industries
and Public Enterprises, said his
Department will soon set guidelines
to improve governance in PSEs in
line with global best practices. There
is a need to review the performance
of PSEs and allow them to withdraw
from areas that are better served by the
private sector, he said.
Mr S Gopalakrishnan, President,
CII, and Executive Vice Chairman,
Infosys Ltd, mentioned that proactive
reform measures are being adopted
by CPSEs on the lines the Roongta
and Arjun Sengupta Committee
reports. The Cabinet processing of
recommendations, through steps
such as fixing the tenure of three
years for chief executives of PSEs to
improve accountability, transparency
and efficiency, were welcome steps,
he said. The unlocking of PSE assets,
both physical and human, will bring
huge resources into the ambit of the
national exchequer and raise the
productivity of units that are currently
stagnant due to various circumstances,
he felt. Mr Gopalakrishnan also urged
the Government to take a hard look
at Article 12 which was restrictive of
competitiveness for PSEs.
Mr B P Rao, Chairman, CII Council
on PSEs, and CMD, BHEL, said PSEs
continue to operate under constraints.
While the Government has taken
According to Mr Praful Patel, Union several policy initiatives to strengthen
Minister of Heavy Industries and the Public Sector, areas such as
Public Enterprises, PSEs have Corporate Governance, Vigilance
laid a strong foundation for India’s Mechanism,
Human
Resource
industrial development. According Strategy, Joint Ventures, Partnerships,
to him, both the public and private Procurement Policy, etc. merit urgent
sectors are contributing equally to attention, he said. Urgent steps are
India’s economic development.
needed to create a level-playing field
with their counterparts in the private
Mr O P Rawat, then Secretary, sector, Mr Rao added.
Earlier, in his welcome remarks,
Department of Public Enterprises,
Mr Chandrajit Banerjee, Director
2 PSE Newsletter

3. GLOBAL PSE SUMMIT
General, CII, described PSEs as a
formidable and integral force of the
economy. Mr M Narayana Rao,
Chairman, Steering Committee, CII
Global PSE Summit, and CMD,
Mishra Dhatu Nigam Ltd. delivered
the vote of thanks, at the inaugural
session.
PLENARY SESSIONS
{L to R – Mr Sutanu Behuria, Secretary,
Department of Heavy Industry, & Mr
Zheng Changhong, Chairman, CSR Corporation , China}
The session on Strategic Role of
State-Owned Enterprises (SOEs) in
the Economy focused on the role of
PSE and SOEs in achieving flexibility
and sustainability of the economy.
Dr Sutanu Behuria, Secretary,
Department of Heavy Industries,
Union Ministry of Heavy Industries
and Public Enterprises, said SoEs have
been established for strengthening and
supporting the industrialization process
especially in areas and sectors which
require high investments, such the
North Eastern region, and the Defence
industry, where the private sector had
its inhibitions, as maximizing profit
was not the PSE objective.
A background paper prepared
by KPMG titled ‘Public Sector
Enterprises in India: Transformation,
Empowerment and Sustainability’
notes that China established a Stateowned Assets Supervision and
Administration Commission (SASAC)
which launched a process of redefining
the relationship between the central
government and the so-called ’central
enterprises.’ Similarly, the report points
out, in Singapore, Temasek Holdings
was set up as the Government’s private
investment arm and the holding
company of Singapore’s PSEs.
Mr Zheng Changhong, CEO, China
CSR Corporation Ltd, explained
China’s model to catalyze both the
public and the private sector. Over
the years, the Chinese Government
has made significant policy changes,
which have encouraged the public
and private sector to work together.
The private sector in China is a major
supplier to PSE, and hence the goods
manufactured are an amalgamation of
public and private sector.
The session on ‘Relationship of
State-owned Enterprise with its
Stakeholders,’ was chaired by Mr
G C Pati, Secretary, Department
of Defence Production, Union
Ministry of Defence. Highlighting the
expectations and relationship of PSEs
with their various stakeholders, Mr A
K Garg, CMD, MTNL, categorised
the stakeholders as owner, customer,
vendor and employee, and elaborated
on their roles and expectations with
PSEs.
Plenary Session III, on Governance
of SOEs, saw an informative debate on
{L to R – Mr M Narayana Rao, CMD, Midhani, RAdm A K verma, CMD, GRSE,
Mr Passang Dorji, Director, Druk holding & Investment, Bhutan, Mr R Srikumar,
Vigilance Commissioner, Mr S K Roongta, Former Chairman SAIL & Head Al. &
Power business, Sesa Sterlite Ltd. Mr Shardul Shroff, Managing Partner, Amarchand
& Magaldas & Suresh a Shroff & Co, Mr B Prasada Rao, CMD, BHEL}
PSE Newsletter
3

4. 4 PSE Newsletter

5. GLOBAL PSE SUMMIT
the need for greater autonomy, and the
impact on their performance due to
greater accountability to Government
agencies such as CVC, among others.
has serious ramifications for companies
and directors, he said.
2) Become leaders in technology and
innovation
R Adm (Retd) A K Verma, CMD,
Garden Reach Shipbuilders &
Mr
R
Srikumar,
Vigilance Engineers Ltd, reiterated the need for
Commissioner, Central Vigilance more autonomy and a level-playing
Commission, (CVC) who chaired field for SoEs. The inability to reward
the session, said there were a lot of good performers hampers the efficiency
expectations from SOEs. The Public of SOEs, he felt.
Sector by its very definition is a ‘state’
and therefore accountable to the public, Thought Leaders Panel:
he said. The strain on revenue due to Roadmap for Future
severe taxations and conflict of interest
between the owner (Government)
and management, peculiar to PSEs,
deprives them of a level-playing field.
3) Change HR policies to attract best
talents
Mr S K Roongta, former Chairman,
SAIL, pitched for reforms in
governance and functioning of Central
PSEs. He also called for more proactive
roles by boards, mergers and strategic
partnerships, and better performance
evaluation of employees.
Bhutan has initiated reforms and
brought some rethinking in the way
of managing and governing PSEs, said
Mr Passang Dorgi, Associate Director,
Druk Holding and Investment (DHI),
Bhutan. DHI, a single holding
company for PSEs was set up in 2007,
and all PSEs are consolidated into this
one company i.e. DHI, which manages
all the stakeholders, and is responsible
for delivering the performance targets.
Taking a fresh perspective on
governance, Mr Shardul S Shroff,
Managing Partner, Amarchand &
Mangaldas & Suresh A Shroff & Co,
discussed the new Companies Act,
2013, which makes comprehensive
provisions for all listed and unlisted
companies in the country. This new law
4) Aspire for the best pool of talent
and follow the latest HR systems and
recruitment practices
5) High-level of autonomy for PSEs
is required to facilitate the other four
reforms.
Mr R S Butola, Chairman, Indian
Oil Corporation Ltd, however, said
scaling up Indian PSEs face a range
of constraints including disparity
in compensation structures. Indian
PSEs, he said, often lose out on major
contracts because of strict guidelines
– something that delays renegotiation
of terms. He favoured the creation of
{L To R – Mr Adil Zainulbhai, Chair- an umbrella organisation or a trust to
man – India, Mckinsey & Company, Mr oversee the working of all PSEs and
Siddharth Zarabi, Editor- Economic state-owned wealth.
Policy,CNBC TV 18, Mr R S Butola
Chairman , Indian Oil Corporation Mr Nalin Shinghal, Chairman,
Limited & Mr Nalin Shinghal, CMD, Central Electronic Ltd, regretted that
procedural delays in appointments
Central Electronics Ltd}.
There was a lively discussion on
the reforms PSEs need for good
governance.
Mr Siddharth Zarabi, Editor –
Economic Policy, CNBC TV 18, the
moderator, said the present market
situation calls for dynamism by the
country’s political leadership to make
PSEs globally-competitive.
Mr Adil Zainulbhai, Chairman,
India, McKinsey & Company,
outlined a five-point vision for PSEs:
1) Achieve world-class scale
and promotions were affecting the
talent pool of Indian PSEs. He called
for a policy change in restrictive
oversight mechanisms that make
government employees, especially in
senior levels, averse to risk taking and
innovations.
Taking a different view, Mr D Raja,
MP Rajya Sabha, expressed his
,
reservation towards privatisation of
PSEs. “I strongly support and believe
in the Public Sector, which has played
a major role in achieving our national
and social goals,” he said, commenting
on Government plans to aggressively
PSE Newsletter
5

6. 6 PSE Newsletter

7. PSE News Update
Industries and Public Enterprises.
Ms. Sidhu has a rich and diversified
experience of working in senior
positions, both at Central and State
levels. During her career spanning over
30 years, she has served in responsible
positions in various Government
departments like Irrigation, Water
Resources, Power, Tourism, Higher
Education & Languages, Planning,
Personnel etc. She also held the charge
of Chief Electoral officer and Principal
Secretary of Elections Department,
Government of Punjab from October
2008 to April 2013.
Ms. Sidhu has served as a Part-time
{L To R – Mr Vimal Wakhlu, CMD, TCIL, Mr O P Rawat, Secretary, Departmnet official Director in HEC, HMT Ltd
of Public Enterprises, Mr Ajay Shankar, Member Secretary, National Manufacturing and BHEL.
Competitive Council Mr B Prasada Rao, CMD, BHEL, Mr R S Butola, Chairman,
IOCL}.
pursue privatization of PSEs. He,
however, backed the view that PSEs
need functional autonomy. “The Public
Sector needs functional autonomy, and
not political interference,” he said.
PSE News Update
CII welcomes Ms Kusumjit
Sidhu as Secretary,
Department of Public
Mr Ajay Shankar, Member Secretary, Enterprise
National Manufacturing Competitive
Council in his valedictory remarks, said
PSEs should take pride on what they
have achieved and build a brand for
themselves. PSEs should have a risktaking appetite, he said, adding they
should encourage their executives to
explore ‘disruptive innovation’ where
new ideas can evolve.
Mr Vimal Wakhlu, CMD,
Telecommunications
Consultants
of India Ltd. felt that Indian PSEs
could do better by drawing from the
Chinese experience. China, he said,
has a holding company for all PSUs
that takes all the critical decisions in
terms of investment and also provides
monetary resources. He also called for
technological upgradation in PSEs.
Ms. Kusumjit Sidhu, a 1979 batch
IAS officer of Punjab cadre has been
appointed as Secretary in Department
of Public Enterprises from 1st January
2014. Ms. Sidhu, was earlier holding
the charge as Additional Secretary
& Financial Adviser in Department
of Industrial Policy and Promotion,
Ministry of Commerce & Industry,
Ministry of Micro Small & Medium
Enterprises and Ministry of Heavy
NTPC set to realise its hydel
dream
The filling-up operation at the reservoir
in the Koldam project in Himachal
Pradesh by NTPC is being described as
a move that will enable the power major
to achieve long-cherished hydel dream.
Built in Bilaspur district and located six
km upstream of Dehar power house of
the Beas-Satluj Link Project (BSL), the
800-MW project will not only provide
the much-needed generation capacity
to help meet a sudden rise in demand
in the Northern Grid, but will also
enhance the life of the Bhakra reservoir
by trapping the sediments of Satlej in
Koldam. With an installed capacity of
800 MW (4x200 MW), the project
will annually generate 3054 GWh
electricity.
OVL signs MoU with Ecuador for
evaluating E&P opportunities
ONGC Videsh Limited (OVL) and
Ecuador have signed an MoU for
studying exploration and production
(E&P) opportunities in the oil-rich
South American country. As per the
PSE Newsletter
7

8. IICA Green Building, Manesar (Haryana)
NBCC
Building Landmarks.
Creating Milestones
E
stablished as a Government of India Enterprise in the year
1960, National Buildings Construction Corporation Ltd.
(NBCC), under the Ministry of Urban Development, Govt. of
India, has been executing many a landmark projects in diversified areas
both at home & overseas. Presently, its operations can be categorized
into three main segments i.e.(i) Project Management Consultancy
(PMC), (ii) Real Estate Development and (iii) EPC Contract. The
company intends to continue to focus on performance & quality
execution in order to gain maximum customers satisfaction in all the
segment of its operations.
NBCC is a certified ISO 9001:2008 company in respect of Project
Management & Consultancy Services. The Corporation has land
reserves of approximately 145.25 Acres. As on date, NBCC's Order
Book stands at `15000 Crore.
NBCC, a schedule 'A' CPSU, is presently operating in diversified areas
that include sectors such as Real Estate-both Residential &
Commercial, Power, Environment, Health Care, Institutions, Roads,
Border Fencing, Mass Housing, Office Complexes etc.
The Corporation has also earned a niche for itself recently, by
constructing a Green Building named Indian Institute of Corporate
Affairs (IICA), Manesar in the State of Haryana.
Company's financial performance in the year 2012-13 has
been impressive as compared to previous year, with
improvement in Profit Before Tax from `289.83 crore to
`301.64 crore and Profit After Tax from `190.17 crore to
`207.50 crore
NBCC Centre, Okhla (Delhi)- A Commercial
Real Estate Project
Cooling Tower & Chimney,
Simhadri STPP (AP)
TOWARDS GREEN
Contributing towards the environment is a matter of pride and NBCC is
pleased of being an eco-friendly organization. Company's all new projects
are conceived/ conceptualized in line with Bureau of Energy Efficiency (BEE)
and GRIHA norms.
NBCC has successfully executed LEED certified first Green Building project
called Indian Institute of Corporate Affairs (IICA), Manesar, with captive solar
power, solar heating and energy saving system. This iconic Green Building
for the Ministry of Corporate Affairs at Manesar, Haryana, was inaugurated
by the Hon'ble Prime Minister of India in April, 2012. Indian Green Building
Council of the Confederation of Indian Industry has awarded the prestigious
LEED India Gold Rating to this building.
Along with that, NBCC has also completed :
• Central Services Officers Institute (CSOI) in New Delhi,
a GRIHA 3-Star Building
• National Institute of Food Technology Entrepreneurship and
Management (NIFTEM) in Sonepat, Haryana
• Aaykar Bhawan in NOIDA (UP).
In July 2012, NBCC has also entered into MoU with The Energy and
Resources Institute (TERI) for implementing projects of NBCC with GREEN
compliance. TERI shall provide advice and consultancy to NBCC for
undertaking future construction work as per Green Building and sustainable
building concepts.
NATIONAL BUILDINGS CONSTRUCTION CORPORATION LIMITED
(A Government of India Enterprise)
A Mini Ratna
Schedule ‘A’ PSE
8 PSE Newsletter
NBCC Bhawan, Lodhi Road, New Delhi-110 003,Visit us : www.nbccindia.gov.in
An IS/ISO 9001:2008
Company
(For Consultancy &
Project Management Division)

9. PSE News Update
MoU, Ecuador will share important
information on oil and gas projects
in the country with OVL. Brazil,
Venezuela and Colombia contribute
about 30 per cent of OVL’s oil
production. The MoU was signed
between the Coordinating Ministry for
Strategic Sectors (MICSE), Ecuador
and OVL in New Delhi with Mr
Rafael Poveda Bonilla, Minister,
MICSE, Ecuador, and DK Sarraf,
MD & CEO, OVL, completing the
formalities. Ecuador is a member of
OPEC and produces about 500,000
barrels of crude oil daily.
IOC tops Fortune India 500 list;
6 PSUs in Top 10
Indian Oil Corp (IOC) is the country’s
biggest company in terms of annual
revenue, followed by private sector
giant Reliance Industries, according to
the Fortune 500 list in India. Compiled
by the global business magazine’s
Indian edition, the list contains six
state-run companies and four from the
private sector. Significantly, the elite list
has seven companies from the energy
sector. IOC was the biggest with annual
revenue of Rs 475,867 crore. Last
year, the oil PSU ranked 83 globally.
It is followed by BPCL (Rs 244,822
crore) at the third place and HPCL
(Rs 217,771 crore) at fourth. Other
companies figuring in the list include
State Bank of India (5th), Tata Motors
(6th), ONGC (7th), Tata Steel (8th),
Essar Oil (9th), Coal India (10th) and
NTPC (15th).
SAIL’s expansion work to be
completed by next year
The massive expansion work at SAIL
is likely to be completed by 2014, said
the Union Steel Minister, Mr Beni
Prasad Verma, in a reply to a query in
the Lok Sabha. The expansion work
is being undertaken to take SAIL’s steel
production from 12.8 million tonnes
per annum (mtpa) to 21.4 mtpa. In
the current phase, SAIL will spend
Rs 61,870-crore on modernisation
and expansion of all its five integrated
steel plants. Till October 31, 2013,
SAIL had spent Rs 44,489 crore on
modernisation and expansion.
PM pitches for greater
functional autonomy for PSEs
The Prime Minister, Dr Manmohan
Singh, once again rooted for greater
functional autonomy for PSEs saying the
state-owned entities have long enjoyed
undue protection. The Prime Minister,
who was speaking at the 3rd BRICS
(Brazil, Russia, India, China and South
Africa) International Competition
Conference in New Delhi in November,
also insisted that bureaucracy loosens
control over PSEs to increase efficiency
and promote a culture of competition
across the board. “The government may
own a public sector firm and exercise
the normal rights of ownership. This
does not mean that it should shelter
the firm from competition as well,”
said Dr Singh. Government ownership
inevitably brings with it a bureaucratic
style of decision-making and the result is
that the enterprise lags in a competitive
market, he added. “The solution lies
in giving public sector firms greater
functional autonomy and freeing them
from bureaucratic control, and not in
tolerating a slip in their competitiveness
and then shielding
competition,” he said.
them
from
New PSE launch boosts India’s
bullet train dream
India’s bid to run bullet trains at
a speed of 300-350 km per hour
received a shot in the arm when the
Railway Minister, Mr Mallikarjun
Kharge, launched a new PSE called
High Speed Rail Corporation of
India Limited (HSRC) in New
Delhi on October 29, 2013. HSRC
was formed on the directions of the
Ministry of Railways for development
and implementation of high speed rail
projects. This special purpose vehicle
(SPV) was incorporated on July 27,
2012 as a subsidiary of Rail Vikas
Nigam Limited (RVNL). Earlier, the
Union Government had announced
its decision to build High Speed
Passenger Rail corridors for running
trains at speed of 250-350 km an hour.
Work is under way for developing two
high-speed corridors.
SJVN’s Khirvire Wind
Power Project Commences
Generation
After achieving great success in hydro
power generation, SJVN Limited
has successfully commissioned 15
Wind Power turbines of its 47.6
MW Khirvire Wind Power Project in
Ahmednagar District of Maharashtra.
Each of the 15 Wind Power turbines
has a capacity to generate 850 kV
energy. The project will have a total
56 turbine units and will have annual
energy generation of 85.65 MU of
electricity. The 15 turbine units
PSE Newsletter
9

10. 10 PSE Newsletter

11. CSR Initiatives
commissioned are located in village
Khirvire/Kombhalane.
The project has been linked to a 132
kV Transmission Line from Akole 132
kV Grid Sub Station to 2 x 50 MVA,
33/132 kV Wind Farm Pooling
Station connecting 33 kV Line for
Inter connecting the Maharashtra
Grid. As per the execution schedule,
the project will be fully commissioned
during current financial year.
The Wind Power Project at village
Khirvire/Kombhalane,
Distt.
Ahmednagar, Maharashtra for a
total capacity of 47.6 MW is being
executed through M/s Gamesa Wind
Turbine Pvt. Ltd., Chennai (A wholly
owned subsidiary of Gamesa, Spain),
as a contractor.
crore. The Central Government has
approved the revival of 44 CPSEs and
closure of three CPSEs envisaging total
assistance of Rs 28,354 crore. This has
benefited about 216,000 employees.
Under Dr Nitish Sengupta’s* guidance,
BRPSE emphasised on giving more
empowerment rather than on mere
cash infusion.
* Dr Nitish K. Sengupta – a man
of versatile talent
Four turnaround CPSEs
awarded
Four Central Public Sector Enterprises
(CPSEs) received BRPSE (Board
for Reconstruction of Public Sector
Enterprises) Turnaround Awards
2013 for scripting inspiring stories of
transformation – emerging from the
pits of losses to the orbit of profits.
Late Dr Nitish Sengupta*, chairman,
BRPSE, gave away the awards to
Bharat Coking Coal Ltd, National
Film Development Corporation
Ltd., National Project Construction
Corporation Ltd, and SAIL Refractory
Unit (Formerly Bharat Refractories
Ltd) on November 1. The four
CPSEs have posted profits for three
consecutive financial years — 201011, 2011-12 and 2012-13. Their net
worth has increased after receiving
financial aid from government. So
far BRPSE has recommended revival
of 58 CPSEs and closure of six CPSEs
envisaging total assistance of Rs 39,200
(Born: 8 July, 1933; Died: 3 November,
2013
Dr Nitish K. Sengupta, who died on
3 November 2013, was a versatile
personality – administrator, academic,
politician and author of a number
of books. Educated at Presidency
College, Kolkata, Dr Sengupta was
a gold medallist in MA, and received
his Ph.D in Management from Delhi
University in 1972.
Dr Sengupta headed the Board for
Reconstruction of Public Sector
Enterprises and was also a Member of
the Second Pay Revision Committee
of Public Enterprises and Member of
the Expert Committee for Selecting
Independent Directors for Navratna
Public Sector Enterprises.
As a civil servant, Dr Sengupta
had an illustrious career holding
important positions such as Revenue
Secretary, Member Secretary, Planning
Commission, Controller of Capital
Issues and Secretary, Department of
Supply in the Government of India
and Secretary, and Director-General
Tourism.
Dr Sengupta was elected MP to the 13th
Lok Sabha (1999-2004) and also served
as a member of the Public Accounts
Committee, Petitions Committee, and
Standing Committee for Ministry of
Railways and Consultative Committee
for Ministry of Finance.
He was a Visiting Faculty at IIMCalcutta & Ahmedabad, Delhi
University and Administrative Staff
College, Hyderabad. After retirement
in 1992, Dr Sengupta took over
as Director-General, International
Management Institute, New Delhi.
He was also as a Resource Person/
Faculty in a number of UN-sponsored
seminars at Beijing, Moscow,
Singapore, Turin, Bangkok, Seoul,
Mumbai, etc., on public enterprise
reforms and developing private sector
initiatives.
CSR Initiatives
EIL wins Golden Peacock Award
for CSR
It was a proud moment for Engineers
India Ltd (EIL) when it bagged the
Golden Peacock Award 2013. The
honour was conferred by the Institute
of Directors in recognition of EIL’s
significant work in Corporate Social
Responsibility (CSR) initiatives and
execution of projects undertaken to
support the underprivileged sections
PSE Newsletter
11

12. 12 PSE Newsletter

13. Appointments
of society. Ms Veena Swarup, Director
(HR), received the award from Mr
Nikhil Kumar, the Hon’ble Governor
of Kerala, at the 8th International
Conference on Corporate Social
Responsibility in Bengaluru on 17
January 2014. According to an EIL press
release, the company’s commitment
to social causes is unwavering. It will
continue to work as a responsible
company contributing to society and
the environment for a prosperous and
sustainable future, it added.
BEL sets up libraries in village
schools
In an attempt to encourage reading
habits among children, Bharat
Electronics Limited (BEL) teamed
up with Sikshana Foundation and
identified 50 government schools
located in rural areas in Karnataka for
setting up libraries. Significantly, BEL
and Sikshana have asked pupils to set
their school library themselves and
arrange books in order. This has created
fresh interests among the children.
As part of its CSR activities, the
Navratna PSE takes special initiatives
in areas such as healthcare, education,
rural development and environment
protection.
NTPC’ gift of dignity to persons
with disabilities
The District Rehabilitation Centre at
NTPC, Tanda, is a source of succor
for persons with disabilities (PWDs),
especially those living in remote
areas where rehabilitation services
are virtually non-existent. Set up in
association with the National Institute
of Orthopedically Handicapped,
Kolkata, the rehabilitation centre offers
a variety of services which include
screening camps PWDs, doctors’s
advice, appliances and equipment
needed for performing surgeries.
According to reports, more than
7,100 PWDs have already benefitted
from this centre. In a true sense, this
is all about “giving thousands a life
of dignity and possibilities”. NTPC
also runs four such centres at Dadri,
Korba, Rihand and Bongaigaon.
Appointments
S K Sharma takes charge as
Chairman & Managing Director,
Bharat Electronics Limited (BEL)
DRDO. He has served as Unit Head
at BEL’s Hyderabad plant and under
his leadership, the Unit was conferred
the prestigious Raksha Mantri Award
for best performing Defence PSU.
While Mr Sharma was General
Manager (Network Centric Systems)
and head of BEL’s Ghaziabad Unit
,as part of Quality initiatives, he
spearheaded the Business Excellence
process to attain second level
recognition in the CII-Exim Award.
Mr S K Sharma is a BEL nominee
Director on the Boards of BEL’s Joint
Venture Companies, GE BEL Pvt Ltd
and BEL Multitone Pvt Ltd.
S. Varadarajan takes charge
as CMD, Bharat Petroleum
Corporation Limited
Mr S K Sharma took charge as
Chairman & Managing Director
(CMD) of Navratna defence PSE
Bharat Electronics Limited (BEL)
on January 1, 2014. He was Director
(Bangalore Complex), BEL, before his
elevation.
Mr Sharma joined BEL in 1978
after graduating from the University
College of Engineering, Bangalore.
He completed his Masters in Business
Administration while in service.
He has wide experience in multiple
disciplines
covering
Electronic
Warfare, Avionics, Network Centric
Systems, Radars and Components,
having served in various capacities
at BEL’s Bangalore, Ghaziabad and
Hyderabad Units.
Mr. S. Varadarajan has taken charge as
the Chairman & Managing Director
of Bharat Petroleum Corporation
Limited (BPCL) on 1st October,
2013. An Associate Member of the
Institute of Chartered Accountants
of India and the Institute of Cost
Accountants of India, Mr. Varadarajan
has about 30 years of experience in all
aspects of the oil and gas industry,
ranging from Finance and Marketing
to Corporate Strategy and Planning.
During his tenure at Bangalore In addition, he enjoyed a stint as the
Complex, he was responsible for Chief Financial Officer, Bharat Shell
development of Airborne Radar Limited (BSL).
Warning Receivers and Avionic
products in collaboration with As Director (Finance) in 2011, he
PSE Newsletter
13

14. Appointments
had the overall responsibility of
the Finance function, Information
Technology and Corporate Planning
in the Corporation. One of his
noteworthy achievement was the
successful completion of BPCL’s
maiden issue of unsecured bonds in
the international market. The issue,
which was placed at a very fine rate
of interest, was over-subscribed by 15
times – the largest for an offering by
distinction of securing the University
an Indian company in 2012.
rank in his graduation and is also
As Executive Director (Corporate a rank holder of the Institute of
Finance),
he
had
treasury Chartered Accountants of India.
management, risk management,
corporate accounts, taxation and Shri Madhusudan, started his
budgeting under his purview. He has career at Bhilai Steel Plant and
participated in several international after serving in various capacities
conferences and road shows and for over 24 years, moved to IISCO
constantly interacts with the investor Steel Plant, Burnpur, as General
and analyst community.While at the Manager(Finance). Shri Madhusudan
helm of Corporate Strategy, he was joined Rashtriya Ispat Nigam Limited
instrumental in ensuring the seamless in 2009 as Director(Finance) and
was instrumental in bringing about
acquisition of Kochi Refineries.
a number of structural changes
Mr. Varadarajan is the Chairman of in Finance functions and made
Petronet India Limited and Petronet significant contribution through
CCK Limited. He is also a Director on prudent Financial Management.
the Board of Bharat Oman Refineries He spearheaded the cost savings
Limited, Bharat PetroResources movement across the organization and
Limited, Matrix Bharat Pte Limited, evolved “a cost culture” for improving
Bharat Stars Services Private Limited the bottom line.
and Bharat Stars Services (Delhi)
Shri Madhusudan is presently the
Private Limited.
Chairman of the Bird Group of
Companies which includes the Orissa
P Madhusudan takes charge
Minerals Development Company
as CMD, RINL
Ltd. (OMDC), The Bisra Stone
Shri P Madhusudan, Chairman-cum- Lime Company Ltd. (BSLC) &
Managing Director, Rashtriya Ispat Eastern Investments Ltd. (EIL). He
Nigam Limited, is a triple qualified is also member on the Board of the
professional – a Chartered Accountant, International Coal Ventures Ltd.
Cost Accountant and Company (ICVL) – a consortium of leading
Secretary. Shri Madhusudan has the state-run firms, viz. CIL, SAIL,
14 PSE Newsletter
RINL & NMDC, for acquiring coal
assets overseas, apart from being the
Chairman of RINL Board.
An astute cricketer and connoisseur
of classical and light music, Shri
Madhusudan has a passion for allround development of the surrounding
community and has initiated a
number of multifaceted schemes
in and around Visakhapatnam for
inclusive growth.
Atul Sobti takes charge as
Director (Power), Bharat Heavy
Electricals Limited (BHEL)
On his appointment as Director on
the Board of Bharat Heavy Electricals
Limited (BHEL), Mr. Atul Sobti, has
assumed charge as Director (Power)
on 1st December 2013.
Prior to this, he was Executive Director
(Power) at BHEL, New Delhi and
was also holding concurrent charge
of Industrial Systems Group (ISG), a
Bangalore based unit of BHEL.
Mr. Sobti is a ‘Mechanical Graduate
Engineer’ with ‘Post Graduation
in International Management’ and

15. Appointments
‘Diploma in Project Management’. He
was awarded the Gold Medal at IMI,
while pursuing ‘Post Graduation in
International Management’. He has
also undergone Advance Management
Training Programmes at IIM,
Ahmedabad and Asian Institute of
Management, Manila.
During his tenure at BHEL’s
International Operations Division, Mr.
Sobti was a key contributor to a fifteen
fold increase in its overseas business
through securing and executing
prestigious power projects and product
orders from many countries including
Oman, UAE, Iraq, Libya, China,
Kazakhstan, Suriname, Bhutan, Sri
Lanka, Egypt, Kuwait, Ukraine, etc.
Mr. Sobti has been an active member
of ‘CII National Committee of young
Managers’, National level ‘CII Trade
committee’ and Bangalore Chamber
of Industry and Commerce (BCIC).
He is also a regular faculty member
at a number of reputed Management
Institutes as well as BHEL’s Human
Resource Development Institute.
e-commerce and is also providing a
range of tourism products, services and
e-ticketing.
Mrs. Amrit Brar is an economics scholar
having done her post graduation
and M.Phil from Panjab University,
Chandigarh. She has also done her
post graduation in Public Policy and
Management from the University of
Pittsburgh, USA under the Joint Japan/
in Central Coalfields Ltd. He worked
World Bank Scholarship Program in
in different capacities in CCL and in
1999.
BCCL he played a vital role as GM/
CGM in Western Jharia Area, Eastern She joined the Indian Railway Traffic
Jharia Area & BCCL HQ.
Service in 1985 and has worked
with the Indian Railways in various
He is a life member in MGMI & Indian
capacities in Operations, Commercial,
Mine Manager’s Association.
Marketing and IT Functions as well
as with organizations such as FOIS
Ms Amrit Brar takes charge
where she handled IT projects. Her
as Director (Tourism &
28 years of meritorious career covers
Marketing), Indian Railways
a wide range of challenging projects
Catering & Tourism
and assignments in Public Sector
Corporation Ltd (IRCTC)
Organizations and Government.
Vinod Kumar Sinha takes
charge as Director (Technical)
RD & T, CMPDI.
Shri Vinod Kumar Sinha has taken
charge as Director (T)RD & T CMPDI,
Ranchi zfrom 08/01/2014. He is a
Mining Engineer from Indian School of
Mines, Dhanbad & also having a First
Class Mine Manager’s Certificate of
Competency from DGMS, Dhanbad.
Mrs. Amrit Brar has recently joined the
Indian Railways Catering & Tourism
Corporation Ltd (IRCTC) as Director
(Tourism & Marketing) and is heading
the Travel, Tourism and IT business
He started his career as Executive Trainee of IRCTC, a Railway PSU which is
today a premier name in the field of
Mrs. Brar has published a number
of articles in leading national &
international journals such as Economic
& Political Weekly, CTRAM Journal
and Journal of Rail Transport Institute.
In addition to being an eminent
scholar and professional, she has also
won a number of awards and accolades
for outstanding performance during
her service period so far.
Amitabh Banerjee takes charge
as Director (Finance), Konkan
Railway Corporation Ltd
Mr. Amitabh Banerjee, 1988 batch
IRAS cadre, assumed the charge as
PSE Newsletter
15

16. Appointments
Director (Finance), Konkan Railway
Corporation Ltd. He was working
Aluminium
Company
Limited
as Director (Finance) in Hindustan
(NALCO) on 3rd January 2014. Prior
Paper Corporation Limited, since
to this assignment, he was working as
September,2010.
the Executive Director (Finance) of the
Mr Banerjee was previously on company.
deputation to Delhi Metro, in the
A fellow member of Institute of Cost
capacity of General Manager (Finance)
Accountants of India, Shri Samal has
He is a Fellow Member of the Institute
significant exposure in the areas of
of Cost Accountants of India. He has
Treasury Functions, Foreign Exchange
handled major projects like Gauge
Management, Corporate Accounts,
Conversion, Laying of New Lines,Track
Budgeting & Control.
Doubling, Construction of Railway
Bridges, etc. He has also worked in He has played a key role in largethe capacity of Director in the Office scale computerization in Finance,
of Comptroller & Auditor General Capital Restructuring, Foreign Debt
of India for about 2 years from 2003 Management, introducing Risk
onward as a representative of Ministry Management against Foreign Exchange
of Railways in an Autonomous Body exposure. He was also associated with
- “Government Accounting Standards various academic institutions as visiting
Advisory Board” - under the aegis of faculty like XIMB, Utkal University,
CAG, involved in the formulation KIIT, ICAI.
of Accounting Standards for Central
Government and State Governments. He is representing Nalco on the Board
He has also worked in Steel Authority of Joint Venture Company-Angul,
of India Limited as a Finance Executive Aluminium Park Ltd. and NPCILNALCO Power Company Ltd
from 1986 to 1989.
K C Samal takes charge as
Director (Finance), National
Aluminium Company Limited
(NALCO)
2014. He is an HR professional with over
30 years of rich experience in Strategic
Human Capital Engagement (SHCE)
in social responsibility initiatives, talent
attraction & development, industrial
relations, formulation of personnel
policies, improvement of HR systems,
nurturing successors and developing
committed team.
Sri Borgohain had acquired globally
accredited MBA degree (EQUIS,
Europe, AACSB, USA) from
International Centre for Promotion
of Enterprise, Slovenia, sponsored for
this programme by the Department of
Public Enterprises, GOI. Sri Borgohain
was also a Gold Medalist in his post
graduation studies with specialisation
in Personnel Management & Labour
Welfare and obtained LL.B degree after
completion of his graduation.
Alok Sinha takes additional
charge as CMD, Airport
Authority of India
M P Mall takes additional
charge as CMD, Indian
Satyabrata Borgohain takes
Railways Catering & Tourism
charge as Director (Personnel), Corporation Ltd (IRCTC)
NEEPCO Ltd
Sri Satyabrata Borgohain assumed
Shri K.C.Samal has assumed the office the charge of Director (Personnel) in
of Director (Finance) of National NEEPCO Ltd, Shillong on January 1,
For comments/suggestions, please write to Nita Karmakar, Director, CII at nita.karmakar@cii.in
Disclaimer: This document is being shared for information purposes only and is therefore not intended to substitute for formal professional advice. All information in this document has been compiled and/ or arrived at from various sources available in the public domain.
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