Tata Steel BSL Limited reappoints MD and CFO

Based on the recommendations of the Nomination and Remuneration Committee, the Board of Directors of Tata Steel BSL Limited ('Company') at its meeting held today i.e. May 14, 2021, approved the re-appointment of Mr. Rajeev Singhal as the Managing Director of the Company for a period of one year with effect from May 18, 2021, i.e. on the expiry of his present term on May 17, 2021, subject to the approval of shareholders. We confirm that Mr. Singhal is not debarred from holding the office of Director by virtue of any Order passed by the Securities and Exchange Board of India or any other such authority.

Mr. Singhal was appointed as the Managing Director of the Company on May 18, 2018 pursuant to the acquisition of the Company under the corporate insolvency resolution process. Prior to his current position, he was the Vice President - Raw Materials, Tata Steel Limited.

Mr. Singhal joined Tata Steel Limited as a Graduate Trainee in 1985. After his initial stint in information technology, he handled the marketing & sales function for over 20 years across many product lines. His professional journey that spans a little over than three decades has seen several milestones in various departments such as Information Technology, Marketing, Sales, Human Resources and Raw Materials.

Mr. Rajeev Singhal is a Mechanical engineer from IT, Banaras Hindu University and has completed PGDBM in Marketing from XLRI, Jamshedpur. He has completed CEDEP's General Management Program at, INSEAD, France.

The board also approved the re-appointment of Mr. Sanjib Nanda as the Chief Financial Officer of the Company for a period of one year with effect from May 18, 2021, i.e. on the expiry of his present term on May 17, 2021.

Mr. Nanda was appointed as the Chief Financial Officer ('CFO') of the Company on May 18, 2018 pursuant to the acquisition of the Company under the corporate insolvency resolution process. Prior to his current position, he was the CFO of NatSteel Holdings Singapore Pte. Limited (a subsidiary of Tata Steel Limited)

Mr. Nanda joined Tata Steel in 1991 in the Export Finance function. He was then deputed to Singapore and served as Regional Manager (South East Asia) where he oversaw the international marketing and sales function. He also headed the worldwide Steel Trading Business of Tata Steel and thereafter has led several leadership roles across Corporate Strategy & M&A, Corporate Finance & Banking, Capital Markets, Treasury and Insurance.

Shares of Tata Steel Bsl Ltd was last trading in BSE at Rs.97.3 as compared to the previous close of Rs. 101.3. The total number of shares traded during the day was 3577646 in over 31907 trades.

The stock hit an intraday high of Rs. 104.55 and intraday low of 96.4. The net turnover during the day was Rs. 353901727.

Source : Equity Bulls

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