Power Grid chief resigns

Five months ahead of his retirement, Power Grid Corp Chairman and Managing Director R P Singh has resigned from the company, the country's largest power transmission utility.

"I have resigned from the company. I have given a one- month notice," Singh told PTI without disclosing details of his next assignment. Singh, who took over as CMD of the company in August 1997, was set to superannuate on July 31.

Interviews for filling up the position were held by Public Enterprises Selection Board early this month.

PESB is believed to have forwarded names of National Hydro-electric Power Corp Director (Personnel)

S K Chaturvedi and Hindustan Paper Corp CMD Raji Philip as the best contenders to the power ministry.

Company sources said an acting Chairman and Managing Director "would very soon be appointed as the position falls vacant from April 1."

During his 37 years of service, Singh has been involved in fields of engineering, contract services and human resources management. He has also worked with NTPC and Tata Steel. PGCIL got listed on the bourses in October, 2007.

Shares of the company were trading at Rs 106.80, down 2.64 per cent on the Bombay Stock Exchange in afternoon trade.