The government has assigned the additional charge of RINL's CMD to Ajit Kumar Saxena.

Appointment

Ajit Kumar Saxena has been appointed as the additional Chairman and Managing Director (CMD) of Rashtriya Ispat Nigam Limited (Vizag Steel), a Central Public Sector Undertaking (CPSU) based in Visakhapatnam, Andhra Pradesh. He will assume this new role immediately.


      - Ajit Kumar Saxena is currently the Chairman and Managing Director (CMD) of MOIL(Manganese Ore (India) Limited ), a PSU under the Ministry of Steel.

      - He will take charge in the absence of Atul Bhatt who has been on leave until 30th November.

     

Main Points:-   (i) Additionally, since Atul Bhatt will retire on 30th November, Saxena will take on extra responsibilities to enhance the conditions and growth of RINL.

      (ii) A steel ministry document reveals that RINL is facing significant financial difficulties. The company has been operating at minimal capacity and incurring ongoing losses. Its total dues have exceeded ₹35,000 crore, putting it at risk of being classified as a non-performing asset by banks.


About Rashtriya Ispat Nigam Ltd (RINL)

Founded: 1982
Headquarters: Visakhapatnam
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