Power News We love to talk!

JAN 05 2017

S Padmanabhan nominated as Tata Power chairman

  • Economic Times, ET Bureau / Hyderabad
  • Created: Thu 05th JAN 2017

Tata Sons Ltd has nominated S Padmanabhan as the chairman for Tata Power Co Ltd with immediate effect using its rights according to the company's articles of association, Tata Power said on Wednesday.

In its statement to BSE , Tata Power said in terms of the company's article of association, Tata Sons Ltd, as the promoter of the company has the right to nominate the chairman of the company's board "as long as the word 'TATA' is associated with the name of the company. Padmanabhan at present serves as an additional director on the company's board.

The company's past chairman Cyrus Mistry resigned for all of his board positions from various listed Tata Group companies on December 19. Following Mistry's ouster as the chairman of Tata Sons on October 24, Tata Sons had proposed Mistry's removal from Tata Power's Board. The company also called for an extraordinary general meeting (EGM) on December 26 to seek shareholders approval for the removal.

However, with Mistry's resignation on December 19, the planned EGM was later called off. Padmanabhan’s nomination to Tata Power's board as chairman is the latest in a series of new appointments made by Tata Sons on various Tata group company boards. On November 10, Tata Sons appointed Ishaat Hussain as the interim chairman for Tata Consultancy Services Ltd. In a similar manner, Harish Bhat was appointed as the chairman of Tata Global Beverages on November 16.

Padmanabhan who has in the past been with Tata Power as an executive director, returned to the company as additional director with a fresh appointment on December 16.



Tata Group Power Tata Power

Related News

  • Power Grid clears Rs 2,247 cr for Green Energy Corridor project  Read more
  • Coal India to ask pithead plants to use road network  Read more
  • CEA calls meeting of CIL, power cos & ministries to break FSA deadlock  Read more
  • UPERC exempts system loading charge on connections up to 5 KW  Read more
  • Smart city boards nod to pilot projects in Pimpri Chinchwad  Read more
  • BHEL, 11 other PSUs running in losses: Anant Geete  Read more
  • MNRE seeks exemption from safeguard duty for current solar power projects  Read more
  • Adani Transmission ties up Rs 13,250 crore of funds to buy Reliance Infrastructure assets  Read more
  • MP govt approves electricity at Rs 200 for 77 lakh beneficiaries  Read more
  • All Bihar villages will be electrified by month-end: Deputy CM  Read more