More than 300 posts of independent directors have still not been filled.
In a country where there is such a disparity and large part of population living in villages are below the poverty line, the need for CSR supersedes everything.
The 'Integrity Pact' was signed by GAIL Chairman and Managing Director U D Choubey and TII Chairman R H Tahiliani.
GAIL executives, 2,200 in number, are part of the Oil Sector Officers Association, which has given an indefinite strike call from Wednesday to protest against a pay increase smaller than what was demanded by the organisation. A strike in the oil sector can cripple the already fragile economy and companies like GAIL had been approaching courts for restraint orders to keep fuel supply lines operating.
Reliance Industries, India's most valuable company, and state-run gas firm GAIL India on Tuesday joined hands to set up a multi-billion-dollar petrochemical plant in gas-rich Middle-East, Central Asia or Russia.
Reliance Industries, India's most alued company, and state-run GAIL India will next week mount pitch with Qatar for jointly setting up a $.3 billion mega petrochemical plant in the gas rich nation.
"We had identified 10 countries for setting up the mega petrochemical plant. A working group (of GAIL and RIL) will shortlist three of the identified countries. We may then narrow on one or two for setting up of the mega petrochemical plant," GAIL Chairman and Managing Director U D Choubey told reporters. He, however, refused to name the 10 countries identified for the purpose.
In a bonanza to shareholders, GAIL India on Thursday approved a bonus share in the ratio of one additional share for two shares held.
State-run GAIL India Ltd has mooted a multi-billion-dollar CNG corridor in the country to save up to Rs 60,000 crore (Rs 600 billion) in oil bill and cut carbon emissions from automobiles.
GAIL (India) Ltd is in talks with US energy major Exxon for importing 5 million tons of liquefied natural gas at Dabhol, company chairman U D Choubey said on Wednesday.
The run-up to next year's general elections might see some of the top executives of government-run companies getting unlucky. And, the period could become the best in the lives of those waiting in the wings.
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