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MSTC chief S K Tripathi may get interim charge of heading NMDC

NEW DELHI: MSTC Chairman and Managing Director S K Tripathi is likely to get the additional charge of heading NMDC as the Steel Ministry has decided to relieve SAIL's C S Verma from leading the country's biggest miner, according to a source.

SAIL Chairman Verma, who has been handling the charge of heading NMDC as an interim arrangement since May 2012, also heads 
International Coal Venture Ltd (ICVL).

"Now, Steel Ministry has decided to give Verma more time to concentrate on SAIL where he is holding the highest post and has recommended Tripathi's name to 
Appointments Committee of the Cabinet (ACC) for giving him additional charge of NMDC," a source in the Ministry told PTI.

Tripathi was among 15 candidates called for an interview on May 30 for heading NMDC full-time by a Steel Ministry appointed panel, headed by 
Planning Commission member Arun Maira.

The MSTC CMD, however, could not make the cut. The panel had recommended the names of SAIL's Burnpur plant CEO 
Narendra Kothari and Bharat Coking Coal's CMD Tapas Kumar Lahiri for the same. The final approval of the ACC is still pending.

MSTC Ltd is a Mini Ratna Category-I PSU. The Steel Ministry's decision to appoint Tripathi replacing Verma on an interim basis at NMDC might be a result of the view that the final nod of ACC might take some time to arrive.

"Since, Verma is busy with SAIL and also burdened with the task of heading International Coal Venture Ltd; we thought it to be prudent to allow him to spend more time on SAIL. The steel sector is also passing through a bad time. He needs more time," the source said.

Verma, who also heads SAIL, was given additional charge of NMDC in May last year following some issues cropping up with the incumbent officiating Chairman and senior most Director on the NMDC Board, N K Nanda.

NMDC is without a full-time CMD since a long time. According to the source, Nanda was given the additional charge as Steel Minister 
Beni Prasad Verma did not concur with Public Enterprises Selection Board's (PESB) recommendation of M S Rana for heading NMDC in July last year.

Rana at present heads Security Printing and Minting Corporation of India.

Tripathi's tenure as the interim head of NMDC could be till such time the iron ore miner gets a full-time CMD.