Narsing Rao to Quit Coal India, to Become KCR’s Chief Adviser
Rao may resign between May 24 & 26 and take over the new post on June 2
Coal India chairman S Narsing Rao has decided to resign from the staterun minor to become the chief adviser to K Chandrasekhar Rao, who is set to become the first CM of Telangana. Narsing Rao is expected to resign between May 24 and 26 and take over the new post on June 2. Confirming the development, Rao told ET that he would be joining the government of the new state at a semi-political post, and was slated to put in his papers at Coal India soon. The government will be formed on June 2, and Rao wants to join the state from the very beginning.
According to rules, a chairman needs to provide three months before he leaves. However, Rao hopes him to be relieved sooner as the post he is to take over is also an important one, said people with knowledge of the matter. This would make Coal India, the company which has the responsibility of meeting the nation’s coal demand, headless at a time when the central government is changing. At present, the senior most director at CIL is R Mohan Das, who is director-personal. However, the senior most directors have not always been appointed as acting chairman by the government until it finds a permanent replacement. “It could be either him or someone at the secretary level from the coal ministry,” a senior company official said.
The selection of CIL chairman is done by the Public Enterprises Selection Board. It takes at least 4-5 months to scout for and appoint a new chairman. “Rao’s emotional attachment to Telengana has prompted him to quit the chairman’s post at Coal India and take over the new assignment. He was born at Medak district in Telengana where he spent 22 years of his formative years till he completed graduation,” a source close to him said.