Search the Internet          Tips  Sites: Finance, Investment

A K Mago is new MSEB chairman

Priya Ganapati in Mumbai

Former chairman of the Mumbai Port Trust, A K Mago, took over on Friday as the Chairman of Maharashtra State Electricity Board.

Mago has replaced Vinay Bansal who has been transferred to Delhi as the Financial Advisor in the Commerce Ministry.

Bansal was shunted out over two months ago, with February 25 being his last day as the MSEB chairman. Since then, R B Budhiraja, Principal Secretary, Energy, Government of Maharashtra had been given additional charge of MSEB till the new chairman could take over.

Mago, who is of the rank of Additional Chief Secretary, joined IAS in 1967 and has had a stint in the power and industry departments. He has been the joint secretary in the Department of Power, Government of India, Secretary, Energy and Environment Department, Government of Maharashtra.

In September 1995, Asoke Basak, who was brought in to take care of the developments arising out of the cancellation of the Dabhol power project by the then state government, replaced Mago.

After that Mago served in the Departments of Forests and Trade and Commerce and has also been the Managing Director of Maharashtra Petro Chemicals Corporation and Commissioner, Food & Drug Administration.

Bansal's quiet exit from MSEB is in strong contrast to his high-profile tenure wherein he was responsible for stopping the offtake of power by the MSEB from the disputed Dabhol power plant.

Less than a year ago, Bansal declared that MSEB would no longer buy the power generated by DPC because it could not afford the financial burden anymore. He also invoked a series of penalties against DPC leading a complete shutdown of Phase I and II of the project.

ALSO READ:
The Rediff Budget Special
Money
Business News