Arun Gupta appointed as CMD of Shipping Corporation of India
Arun Kumar Gupta has been appointed as the CMD of Shipping Corporation of India by the government as the post was vacant since December 2012.
Arun Kumar Gupta took charge as the Chairman and Managing Director (CMD) of Shipping Corporation of India (SCI) by the Union Government on 28 January 2014. The post was vacant for over a year after the retirement of S Hajara.
Before this elevation to the post, Arun Gupta was the director of offshore services at the Mumbai-headquartered shipping line. Since retirement of S Hajara in December 2012, the Shipping Corporation of India has been without a full time head and has reported a net loss of 114.31 crore rupees in last fiscal. BK Mandal, the director finance of SCI has been acting as a CMD since the retirement of Hajara.
About Arun Gupta
• He graduated from Marine Engineering College and joined Shipping Corporation of India as an engineer in 1976
• Onboard of Shipping Corporation of India he sailed till 1988
• He has been a trustee of Kandla Port and V O Chidambaranar Port Trust, Tuticorin
• He is a chairman of the Institute of Marine Engineers, Mumbai
The decision on CMD of SCI was made following the losses in three consecutive years in a row, which was challenging the Navratna status of the company. The government rules for Navratna status to the PSUs mentions that a company that reports losses for three consecutive years’ stands to lose Navratna status. This removal of Navratna satus also curbs their financial autonomy.