Vinod Seshan joins Oil India as Government Nominee Director; stock slumps ~4%

16 Jun 2022 , 01:40 PM

Oil India Limited has informed that in terms of the Ministry of Petroleum & Natural Gas’ letter dated June 14, 2022, the company has appointed Vinod Seshan on board.

Vinod has been appointed as Government Nominee Director on the Board of the company. His appointment shall be effective from June 14, 2022.

The company further confirmed that Vinod is neither related to any Director of the company nor has been debarred from holding the office by virtue of any order of SEBI/any other authority.

Sehsan is an Indian Administrative Service (IAS) of the 2008 Assam cadre. Currently, he is acting as the Secretary of Agriculture Department, Govt of Assam. He is an Engineering Graduate from Siddaganga Institute of Technology. Prior to joining Indian Administrative Services in 2008, he was working as a software engineer in HCL.

Oil India’s stock tanked 3.58% at Rs261.35 against its previous close of Rs271.05 on NSE. So far in the day, it touched intraday high and low of Rs277 and Rs255.55 respectively.