New Delhi: R.P. Singh has resigned as executive vice-chairman of Jindal Power Ltd (JPL), a subsidiary of Congress lawmaker Naveen Jindal’s Jindal Steel and Power Ltd (JSPL).
“Dr Singh steps down with effect (from) 1 April 2013 after serving JPL for 4 years,” a spokesperson for JSPL said in an emailed response to queries from Mint.
Singh, a former chairman and managing director (MD) of state-run Power Grid Corp. of India Ltd, quit less than six months after Ravi Uppal took charge in October as managing director and chief executive officer (CEO) of JSPL.
People familiar with the situation said on condition of anonymity that Singh had been upset by the appointment of Uppal, who himself joined JSPL after resigning as a whole-time director and president (power) at Larsen and Toubro Ltd following Krishnamurthi Venkataramanan’s elevation as CEO and MD of the engineering and construction firm.
When asked whether Uppal’s appointment had triggered his exit, Singh declined to comment.
The JSPL spokesperson denied that Singh had stepped down because of Uppal’s appointment.
“Dr Singh is moving on for personal reasons and we wish him the best for his future endeavours,” the spokesperson said in the email. “His presence will surely be missed, but as an organization we do not stand in the way of an individual’s growth.”