Coal India to seek extension of chairman’s tenure

Kolkata: State-owned miner Coal India on Wednesday said it will seek shareholder’s approval over continuation of tenure of its present chairman Sutirtha Bhattacharya till August 31, 2017. The approval, according to the company, will be sought during its annual general meeting scheduled on September 23 here.

The company’s board had appointed Bhattacharya as an additional director with effect from January 5 this year which was pursuant to the Section 161 of the Companies Act, 2013. Bhattacharya, an IAS officer of the 1985 Telangana cadre division, took charge of the company after the board cleared his nomination.

The company, in a filing with the Bomany Stock Exchange, said Bhattacharya was a Physics graduate from Presidency College in Kolkata and has vast and varied experience in different sectors in governance. “He had been managing director of Nizam Sugar Factories, commissioner of industries, secretary in-charge of Irrigation Department, the biggest infrastructure department in Andhra Pradesh,” the filing said.

The company will also propose its stake-holders to upgrade portfolio of Chandan Kumar Dey from an additional director to a whole-time one. R. Mohan Das and N. Kumar, both directors of the company, will be seeking re-appointment in the AGM. On Wednesday, shares of the company closed at Rs.356.90 – down by 1.96 percent.

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