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Alok Sinha Takes Over As New Airports Authority Of India Chief

Updated: February 15, 2014 2:40 pm

Alok Sinha, a Joint Secretary in the Civil Aviation Ministry, took over as the new chairman of Airports Authority of India (AAI) replacing VP Agrawal who headed the state-run airports body for five years. Sinha, who handles airport-related matters in the Ministry, has been given additional charge of the post till a new Chairman is found. Agarwal, whose term ended in December, was asked to continue the post from January one till further orders. Agrawal’s sudden exit came at a time when the government was on a fast-track mode to privatise six airports, recently modernised by the AAI at a cost of several thousand crore rupees from the public exchequer.

IOC Chairman Butola May Get Extension

Indian Oil Corp (IOC) Chairman R S Butola may be the next in line to get a post-retirement service extension as his case is similar to that of BHEL Chairman B Prasada Rao. “Considering that the government made a conscious decision in case of Rao and considering that its policy is consistent in all cases, I think Butola should get an extension,” a senior oil ministry official said. Besides PESB selected chairman designate B Ashok (currently Executive Director retail sales in IOC) having no board experience, the case for extending Butola’s service is more compelling because all the other six directors on board of the nation’s largest oil firm are retiring in next one year.

10 Per Cent Share Sale In Eil To Fetch Rs 500-600 Cr

The Government proposes to sell 10 per cent stake in Engineers India Ltd. It hopes the stake sale may fetch around Rs 500-600 crore. The share sale would be via follow-on-public offer. This is expected to be in the first half of February, EIL Chairman, A.K. Purwaha, told Business Line. The price band and other details would be decided by the Government, he added. At the current market price, 10 per cent share sale of the engineering and construction company may fetch Rs 500-600 crore, the Chairman indicated. The Government has set a target of Rs 40,000 crore by selling its stake in public sector companies in 2013-14.

Air India Extends Acceptance Of American Express Credit Cards

Air India has extended the facility of acceptance of American Express credit Cards for bookings made on-line for journeys originating from USA, UK, Europe, Japan and Singapore. Earlier, only VISA card and MasterCard were being accepted for the purpose. This has been a much awaited facility. This is yet another step by Air India towards making on-line bookings more passenger-friendly and is expected to go a long way in increasing online revenue. This will enable passengers to make bookings online from all corners of the world for journeys originating from these five places.

Syndicate Bank Allots 2.26 Crore Equity Shares To Government

Syndicate Bank has informed BSE that upon receipt of funds from Government of India, the Bank has, on January 13, 2014 allotted Rs 2,26,34,676 equity shares of face value of Rs. 10/- each for cash at a premium of Rs. 78.36 determined in accordance with Regulation 76 (1) of SEBI (ICDR) Regulations aggregating to Rs. 199,99,99,971.36 on preferential basis to Government of India.

ONGC Secures Golden Peacock Award For Corporate Social Responsibility

Oil Maharatna ONGC received Golden Peacock Award for Corporate Social Responsibility for 2013. ONGC’s structured approach is delivering tailored CSR projects for communities around its operational areas got it the coveted award. Golden Peacock Awards, founded by the Institute of Directors, have emerged as one of the prestigious corporate recognitions in various fields. The award was given in Bangalore, in the presence of prominent leaders from various sectors during the ‘8th International Conference on Corporate Social responsibility-2014’, on 17th January 2014. In photo, CMD ONGC Sudhir Vasudeva, Director Exploration & I/c HSE Narendra K Verma and ED-Chief HSE M L Jain received the award- a trophy and a citation from Union Minister of Information and Broadcasting Manish Tewari at New Delhi.

Oil India’s BN Talukar Appointed As New DGH

BN Talukar will soon take charge as the new head of the Directorate General of Hydrocarbons (DGH) which is the technical arm of the petroleum ministry and has a decisive role in many oil and gas issues. Talukar is currently works as the director exploration at Oil India. Sources in the oil ministry said the appointment has been cleared. “The PMO has approved Talukdar’s appointment as the new DGH,” a close aide of oil minister Veerappa Moily told to a newspaper. “I have not heard this or got any formal intimation yet, I can only comment when I see my final orders,” Talukdar said. It puts an end to speculation about the key appointment, particularly after CPI leader Gurudas Dasgupta criticised the transfer of RN Choubey, the cur-rent director general, DGH, alleging that he was being eased out because of corporate pressure. Oil ministry officials, on the other hand, said that Choubey, the first bureaucrat to head the arm, had to go as proper procedure was not followed in appointing him.

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