Shimla: With HK Sharma, CMD of SJVN, not being given another full term after having completed on, RS Katoch, director personnel, was made the ad-hoc chairman-cum-managing director of the mini-Ratna public sector power generating company.
As Katoch retires on Monday, the ad-hoc CMD charge is likely to pass onto RP Singh, director electoral till the central appointment committee approves a new incumbent for the top job of the company that operates the largest hydropower plant in the country.
HK Sharma has ceased to be the CMD of SJVN with immediate effect, said an SJVN official. RS Katoch, the director personnel at SJVN has been given ad-hoc charge, he added.
At the same time the official disclosed that as Katoch on completing 60 years of age is due to retire on 28th February, the charge would in all likelihood pass onto RP Singh, director electoral till a regular incumbent is appointed for the top post.
Sharma had been appointed for a 5 years term in 2005 that had ended and was on a 3 month extension.
Sources said that as Sharma was not given a clearance by the vigilance bureau, a fact brought to the notice of the Prime Minister Manmohan Singh, a proposal for giving a second full term extension was turned down, abruptly ending his term.
SJVN operates the 1500 MW Natpha Jhakri project and is in an advanced stage of executing the 412 MW Rampur project. For efficient operation of the Jhakri plant, where the corporation is likely to achieve a record generation in 2010-11, the government had granted the government generation company a Mini-Ratna status.
The Himachal Pradesh Government has a 25.5 % share holding in SJVN.