New Delhi: The Union Ministry of Housing and Urban Affairs (MoHUA), in consultation with the Public Enterprises Selection Board (PESB), has approved the restructuring of the boards of subsidiaries of NBCC (India) Limited, following significant changes in the ownership and corporate structure of its subsidiaries.
The decision comes after the announcement of the merger of HSCC (India) Limited with its parent company, NBCC (India) Limited, on July 14, 2026, and NBCC’s acquisition of a 51 per cent stake in Hindustan Steelworks Construction Limited (HSCL), effective from April 1, 2017.
As part of the restructuring exercise, several senior-level board positions in HSCL and HSCC have been abolished.
MD And Director Finance Posts Abolished In HSCL
In Hindustan Steelworks Construction Limited (HSCL), the posts of Managing Director (MD) and Director (Finance) have been abolished.
The decision follows the restructuring of the subsidiary’s board in light of NBCC’s majority ownership.
The post of Managing Director in HSCL was already lying vacant.
However, the position of Director (Finance) was held by Shyam Awasthi.
Awasthi’s tenure as Director (Finance), HSCL, was scheduled to continue until August 1, 2026. However, his superannuation is due on March 31, 2035.
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PESB Advises On Shyam Awasthi’s Tenure
The issue concerning the tenure of Shyam Awasthi was also considered by the Public Enterprises Selection Board (PESB).
In a letter dated July 17, 2026, PESB advised MoHUA that the ministry could take an appropriate decision regarding the extension or non-extension of Awasthi’s tenure as Director (Finance), HSCL.
The subsequent restructuring decision includes the abolition of the Director (Finance) post in HSCL.
MD And Director Engineering Posts Abolished In HSCC
In HSCC (India) Limited, the posts of Managing Director and Director (Engineering) have also been abolished as part of the restructuring.
Both posts were already lying vacant.
The move comes against the backdrop of the July 14 announcement regarding the merger of HSCC with NBCC (India) Limited.
With HSCC being brought into the parent company’s structure, the restructuring of its board and senior management positions has been undertaken accordingly.
NBCC’s Expanding Role In Subsidiaries
The restructuring is significant in the context of NBCC’s evolving corporate structure and its control over its subsidiaries.
NBCC, a public sector enterprise under MoHUA, has been strengthening its position through ownership consolidation and restructuring of its subsidiary companies.
The merger of HSCC with NBCC and the majority stake held by NBCC in HSCL have now led to changes in the composition and structure of the boards of these companies.
The abolition of the senior management positions is part of this broader restructuring exercise approved by MoHUA in consultation with PESB.
Key Changes At A Glance
- HSCL: Posts of Managing Director and Director (Finance) abolished.
- HSCC: Posts of Managing Director and Director (Engineering) abolished.
- HSCL MD: Post was already vacant.
- HSCL Director (Finance): Held by Shyam Awasthi; tenure was up to August 1, 2026.
- HSCC MD and Director (Engineering): Both posts were lying vacant.
- PESB: Advised MoHUA on July 17, 2026 to take a decision on extension or non-extension of Shyam Awasthi’s tenure.
- HSCC: Merger with NBCC announced on July 14, 2026.
- HSCL: NBCC holds a 51 per cent stake effective from April 1, 2017.
About NBCC
NBCC (India) Limited is a Navratna CPSE under the Ministry of Housing and Urban Affairs, engaged in construction, project management consultancy and redevelopment. Its key subsidiaries include HSCC (India) Limited, NBCC Services Limited and NBCC International Limited.
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