IndiGo set to expand board to have 4 independent directors

first_imgNew Delhi: Amid promoters feuding over governance issues, InterGlobe Aviation has decided to have up to 10 members on its board, including four independent directors. The decision, taken during the company’s board meeting on July 20, comes against the backdrop of a feud between co-promoters — Rakesh Gangwal and Rahul Bhatia — over corporate governance issues. InterGlobe Aviation, the parent of the country’s largest airline IndiGo, at present has six members, including two independent directors. Also Read – Thermal coal import may surpass 200 MT this fiscalThe board of directors have decided to amend the Articles of Association (AoA) for expanding the board by up to a maximum of 10 members, including four independent directors, a regulatory filing said. “The said amendment of the articles will be subject to approval of the shareholders at the forthcoming annual general meeting of the company,” it added. Generally, an AoA pertains to internal rules governing a company. In a statement on July 19, the company said its board has decided to seek shareholders’ approval for expanding the board to enable the induction of an independent woman. Former Sebi chief M Damodaran is the Chairman of InterGlobe Aviation. Apart from Gangwal, Bhatia and his wife Rohini Bhatia, former World Bank executive Anupam Khanna and chartered accountant Anil Parashar are board members. Markets regulator Sebi and the corporate affairs ministry are looking into the alleged governance lapses at InterGlobe Aviation. Shares of InterGlobe Aviation were trading at Rs 1,475.30, higher by 0.82 per cent, even as the broader market was trading in the negative territory.last_img read more

Cyanide production technology wins top prize at IChemE Global Awards 2014

first_imgCyanide, and the process of cyanidation, is the most efficient method for extracting gold and silver from low grade ore. However, it is highly toxic and its manufacture, transport and handling pose major safety and environmental challenges.Australia-based Synergen Met Pty Ltd, in collaboration with the University of Queensland (UQ), beat over 60 other entries to the Overall Award for Outstanding Achievement in Chemical and Process Engineering in 2014 for their process plant that manufactures cyanide on location at the minesite.The development reduces costs by up to 50% and avoids the need to transport, store and handle large volumes of hazardous solid and liquid sodium cyanide. In addition to collecting the top prize, the Synergen Met and UQ entry, called “Modular On-site Cyanide Production Unit”, was also presented with the Core Chemical Engineering Award. Christopher Dunks, Managing Director at Synergen Met Pty Ltd, said: “This award validates the importance of our site based cyanide production unit and the paradigm shift it generates for the supply of cyanide to the global mining community. It also validates the important impact it will have on communities affected by mines and the impact of removing cyanide from transport networks.”“IChemE President, Professor Geoff Maitland, said: “Few professions have the power globally to shape and improve the future. Chemical engineers have this privilege and this year’s IChemE Global Awards illustrate how our profession is setting new standards in healthcare, energy, water, safety and a more sustainable planet, including supporting some of the poorest people in the world. The IChemE Global Awards − with the generous support of our sponsors − represent the hard work, inventiveness and achievements of thousands of chemical engineers across the world, and we are proud to host them on behalf of the profession. Congratulations to all of the shortlisted entries for this year’s IChemE Awards, and especially the winners, who have shown that chemical engineering really does matter.”The Awards – which celebrate excellence, innovation and achievement in the chemical and process industries – were hosted by BBC News’ Kate Silverton and held in association with Saudi Aramco at Cheltenham Racecourse on 6 November 2014.last_img read more