P M Prasad appointed as Chairman and Managing Director in Coal India Limited
In a letter from the Director to the Govt. of India, Ministry of Coal, New Delhi conveying the approval, has announced the appointment of a new CIL Chairman.
New Delhi: P M Prasad, Chairman-cum-Managing Director, Central Coalfields Limited (CCL) has been appointed as Chairman-cum-Managing Director in Coal India Limited (CIL) in Schedule 'A' of the CPSE.
In a letter dated June 28, 2023, from Director to the Govt. of India, Ministry of Coal, New Delhi conveying the approval of the President and in pursuance of the Articles of Association of Coal India Limited (CIL), has announced the appointment of new CIL Chairman.
CIL Chairman Pay Scale:
As mentioned in the letter his pay scale will be Rs. 2,00,000-3,70,000/- with effect from the date of his assumption of charge of the post on or after July 01, 2023, till the date of his superannuation i.e October 31, 2025, or until further orders, whichever is earlier.
CIL Chairman Tenure:
His performance will also be reviewed to enable the Government to take a view regarding continuance or otherwise for the balance period of tenure.
However, his appointment as CMD, CIL for the said period is made on a contract basis and the Government will have the option to terminate his services with three months' notice or with three months' pay in lieu thereof.