Since Friday evening, Indian public sector company ONGC NSE 0.67 % has had nobody in-charge, ever since incumbent Subhash Kumar superannuated. The government is required to appoint a successor, or at least an officiating chairman, neither of which have happened.
ONGC, India’s most valuable public sector company, with annual capex plans of Rs 30,000 crore is likely to remain without a chief for another 24 hours.
As the hierarchy stands, the senior-most director in the organisation – Alka Mittal, director (HR) – would take over from Kumar. However, that is subject to a government order. As it stands, the last administrational order from the Oil Ministry – issued on December 28 – gave Anurag Sharma, the onshore director, the additional responsibility of finance director.
