New Delhi: In a significant leadership transition at one of India’s key public sector undertakings, Shri Sarada Bhushan Mohanty, currently serving as Director (Finance) of IREL (India) Limited, has been selected as the next Chairman and Managing Director (CMD) of the company.
The Public Enterprises Selection Board (PESB) made the announcement following its 57th selection meeting held on July 4, 2025, at 3:30 PM in New Delhi.
Selected from a Pool of Senior PSU Executives
The top post was filled after a rigorous selection process involving 12 senior candidates from various reputed public sector and government entities. The shortlisted candidates included officials from NMDC, MOIL, NLC India, Cement Corporation of India, Hindustan Organic Chemicals, and the Indian Railways, among others.
Shri Mohanty’s selection reflects his deep expertise in financial strategy and a proven track record in driving organizational growth at IREL.
Pending Final Approval from ACC
While PESB has recommended Mohanty for the CMD post, the appointment is subject to final clearance by the Appointments Committee of the Cabinet (ACC), which oversees high-level postings in central public sector enterprises.
Key Role in India’s Strategic Mineral Sector
IREL (India) Limited, a Schedule B CPSE under the Department of Atomic Energy, plays a vital role in India’s rare earths and mineral sands sector, contributing to both commercial and strategic mineral supply chains critical to national development and technological self-reliance.
With Mohanty’s elevation, the company is expected to maintain its focus on financial prudence, sustainable resource development, and strategic expansion in alignment with the national objectives of Aatmanirbhar Bharat.
About IREL
IREL (India) Limited, formerly Indian Rare Earths Limited, is a Mini Ratna Category-I Central Public Sector Undertaking under the Department of Atomic Energy, according to IREL (India) Limited. It is primarily involved in the mining of mineral sands and the production and sale of heavy minerals and rare earth compounds. The company was incorporated on August 18, 1950. IREL extracts and processes minerals like Ilmenite, Rutile, Zircon, Sillimanite, and Garnet from beach sand deposits. They also produce Rare Earths Chloride and associated products.
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