The authorities has given Madhulika Bhaskar, General Manager, New India Assurance (NIA), the extra energy of the Chairman & Managing Director (CMD) of the corporate for a interval of three months or until an everyday appointment to the submit is completed, with instant impact.
“The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Financial Services for entrusting financial and administrative powers and functions of the post of Chairman-cum-Managing Director (CMD), New India Assurance Company Limited (NIACL) on additional charge basis, for a period of three months,” mentioned a Directorate of Personnel and Training order on Tuesday.
While Bhaskar was shifted from GIC Re to NIA in March to be an performing CMD of the corporate, she was not given the mandatory energy to operate because the CMD of the corporate.
Currently, the federal government can’t make an everyday appointment to the submit of CMD of any PSU normal insurance coverage firm because the ‘Inderjeet Singh vs Indian Government’ case is pending within the Delhi High Court, difficult the ability of Banks Board Bureau (BBB) to pick out any CMD. On Monday, the Delhi HC had adjourned the case to September 8.
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