The Director, Finance of Hindustan Aeronautics Limited (HAL), D Shivmurti was asked to leave abruptly, last month, after being denied an extension of his appointment by the Public Enterprises Selection Board. He was supposed to have completed his five-year term on October 27 last year. According to the rules, the appointment of Director, Finance can be held only for five years or until the age of 60, whichever is earlier, in the absence of an extension.
However, he was allowed to continue in office by the Ministry of Defense until further orders, after he was denied confirmation last October.
Shivmurti had tossed the idea of an HAL IPO (Initial Public Offer) in the air at the Bangalore Air Show, saying it would be subject to government approval. He had also officiated as chairman, since the incumbent Ashok Nayak was indisposed for family reasons.
He went home abruptly on March 3, after being informed around midday that his services were no longer required.
Similar articles
- Eurofighter and Euroradar confirm that the Typhoon will get its AESA radar by 2015
- Six Air Force Planes Rush Rescue and Relief Material to Leh MI-17 Choppers Join in Rescue Efforts
- Lankan army to return lands of Tamils of Indian origin Rao
- Hosni Mubarak and family under house arrest Egypt army
- FMBT Part II Indias future main battle tank now grapples with a weight issue
| < Prev | Next > |
|---|
