RIL may get new MD before April 1; Manoj Modi, Meswanis among probables

NEW DELHI: Reliance Industries Limited (RILNSE -0.77 %) could get a new Managing Director soon if the directive by the Securities and Exchange Board of India (SEBI) on separation of the Chairman and Managing Director posts is implemented as per schedule on April 1.

Mukesh Ambani, CMD of RIL will become the non-executive Chairman while a non-Ambani may become RIL’s MD for the first time in the company’s history.

While there is buzz around RIL Executive Director Nikhil Meswani’s name, Mukesh Ambani’s confidante and right hand man, Manoj Modi, who is virtually CEO of the company would be a natural choice.