New Delhi: In a key development, the Public Enterprises Selection Board (PESB) has not recommended any candidate for the crucial position of Director (Finance) at NMDC Limited, following a selection meeting held on July 21, 2025.
Despite interviewing ten senior executives from top public sector enterprises, PESB concluded that none of the candidates met the required benchmark for the role. The board has advised the Administrative Ministry/Department to explore an alternative route, such as forming a Search-Cum-Selection Committee (SCSC) or any other suitable method, with the approval of the competent authority.
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Who Were the Candidates?
The following executives were interviewed for the top finance role:
- Shanthi P, General Manager (Finance), NMDC Limited
- Ajay Dwivedi, General Manager – Finance, NMDC Limited
- Gali Anupama, Chief General Manager & CFO, NMDC Limited
- Madhurachari Jagdish, General Manager, NMDC Limited
- Pradip Kumar Mahapatra, Deputy General Manager (Finance), NMDC Limited
- Surendra Narayan Jena, Deputy General Manager (Finance), NMDC Limited
- Sanjay Gupta, Group General Manager (Finance), National Aluminium Company Limited
- Himanshu Sekhar Panda, Group General Manager, National Aluminium Company Limited
- Ajay Kumar Aggarwal, General Manager (Finance), Bharat Sanchar Nigam Limited
- Mohan Lal Kumawat, Executive Director (Finance), REC Limited (ECB & Corporate Accounts/Taxation)
Despite their collective experience and credentials, the board opted not to select any candidate, signaling its emphasis on the highest standards of professional competence and suitability for the strategic post.
What’s Next?
The PESB’s recommendation opens the door for the Ministry of Steel (the administrative ministry for NMDC Limited) to invoke the Search-Cum-Selection Committee (SCSC) route or other appropriate methods, after securing approval from the Appointments Committee of the Cabinet (ACC).
This process could potentially widen the pool of applicants by including private sector leaders or senior professionals from beyond traditional PSU hierarchies.
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Why It Matters
The post of Director (Finance) at NMDC, India’s largest iron ore producer and a Maharatna PSU, plays a pivotal role in financial strategy, capital management, corporate governance, and oversight of large-scale mining operations and investments.
A delay or re-initiation of the selection process indicates the PESB’s commitment to maintaining merit and accountability, especially for leadership roles in critical public sector companies.
About NMDC
NMDC Limited is India’s largest producer of iron ore and operates under the Ministry of Steel. Headquartered in Hyderabad, it plays a pivotal role in meeting the raw material requirements of India’s steel industry and contributes significantly to mineral exploration and development.
