Petronet LNG Limited Will Have To Wait For It's New CMD Akshay Kumar Singh To Take Command

Confusion prevails over the date of joining of the new CMD elect as ACC is yet to give its final nod

Posted : 19 December, 2020
Author : Vivek Avasthi
Petronet LNG Limited Will Have To Wait For It's New CMD Akshay Kumar Singh To Take Command

Petronet LNG Limited will have to wait, no one knows for how many more days, for its new CMD elect Akshay Kumar Singh to take over the reigns of the organisation. The Appointment Committe of Cabinet (ACC) is yet to give it a final clearance and Indian Oil Corporation Limited (IOCL) is to accept the resignation of Singh, presently serving as Director (Pipelines) with IOCL. Sources say that the Ministry of Petroleum and Natural Gas wants Akshay Kumar Singh to join Petronet LNG Limited as soon as possible but till now, there is no clarity on his date of joining the new organisation. 

The board of directors of Petronet LNG Limited had selected Akshay Kumar Singh (Application ID - 201908003330) for the post of MD & CEO, in its board meeting held on November 04 2020. This was after the superannuation of Prabhat Singh in June end, last year and the top post of the organisation is lying vacant for over five months now. 

Petronet LNG Limited is a company which has a shareholding of 50 percent with the public and FIIs. Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), Gas Authority of India Limited (GAIL) and Oil and Natural Gas Corporation Limited (ONGC) hold 12.5 percent of shares each with PLL.