Reliance Power appoints Shri Bimal Julka, Shri Vijay Kumar Sharma and Smt. Chhaya Virani as Independent Directors

Reliance Power Limited has appointed Shri Bimal Julka, Shri Vijay Kumar Sharma and Smt. Chhaya Virani as Independent Directors of the Company for a term of five consecutive years commencing from September 26, 2020 subject to the approval of members at the ensuing Annual General Meeting of the Company.

Shri Bimal Julka, a name well known in Government, is an Indian Administrative Service (IAS) officer of the 1979 batch belonging to the Madhya Pradesh Cadre. Four decades of service in the Government at both state and national levels have contributed to a stellar career graph. In the latter years of his career, Mr. Julka held key positions in the Ministries of Defense and Finance. At the pinnacle of his career, he became Secretary to Government of India in the Ministry of I&B.

From accomplishing a near impossible task as a young officer in charge of relief during the Bhopal Gas tragedy to successfully conducting FM radio auctions as Secretary, Mr. Julka, is known to be a true Karmayogi. Dealing with inconsistencies at bureaucratic levels with a firm hand and to use the principals of good governance for the larger interest of public good have been his forte. A hard hitting negotiator along with a truly democratic style of functioning has made him one of the most respected civil servants.

An exemplary service record led to his appointment as Information Commissioner at the Central Information Commission. Earlier this year he was appointed Chief Information Commissioner of India.

Shri Vijay Kumar Sharma superannuated as Chairman, Life Insurance Corporation of India on 31st December, 2018. Prior to his taking over as Chairman on 16th December 2016, he served as Chairman (In charge) from 16th September, 2016 and Managing Director, Life Insurance Corporation of India from 1st November, 2013. From December 2010 to November 2013, he served as Managing Director & Chief Executive Officer, LIC Housing Finance Limited (LICHFL), a premiere housing finance company in the country.

Shri Vijay Kumar Sharma, born on 19th December, 1958 is a post-graduate from Patna University. Shri Sharma joined Life Insurance Corporation of India as Direct Recruit Officer in 1981 and grew up with the Corporation since then. He held various challenging assignments pan India and in all operational streams including in-charge positions at different levels. Working across length and breadth of the country has added immensely to his experience and honed his understanding of demographics of the country, socio-economic needs of different regions and multi-cultural challenges in implementation of Corporate's objectives. Shri Vijay Kumar Sharma has served the Corporation for over 37 years. During his tenure, he has worked in all core areas of Life Insurance. He has vast national and international, operational and Board level experience of Financial Sector including Banking, Housing Finance, Pension & Group Insurance Business, Cards, Mutual Funds & Pension Fund. Shri Vijay Kumar Sharma has been the Board member of ACC Ltd., and presently the Board member of Tata Steel Ltd. and Mahindra & Mahindra Ltd. and Ambika Cement Foundation. He is Chairperson of the Stakeholders' Relationship Committee of the Board of Tata Steel Limited. He is a Member of the Safety Health and Environment Committee of the Board of Tata Steel Ltd. He is also presently the Chairman of ICEX.

Smt. Chhaya Virani graduated from Mumbai University with a bachelors' degree in Arts. She also acquired a bachelors' degree in legislative laws from the Government Law College in 1976. She is a partner in M/s. ALMT Legal Advocates and Solicitors.

She is also on the board of Reliance Capital Limited, Reliance General Insurance Company Limited, Reliance Home Finance Limited, Reliance Capital Pension Fund Limited and Reliance Corporate Advisory Services Limited.

Shares of RELIANCE POWER LTD. was last trading in BSE at Rs.2.89 as compared to the previous close of Rs. 2.64. The total number of shares traded during the day was 5793579 in over 20272 trades.

The stock hit an intraday high of Rs. 2.9 and intraday low of 2.65. The net turnover during the day was Rs. 16179103.

Source : Equity Bulls

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