CCEA approves reconstitution of BLIL board

The Cabinet Committee on Economic Affairs (CCEA) Thursday approved a proposal of the Petroleum Ministry to reconstitute the board of Balmer Lawrie Investment Ltd (BLIL).

“This follows the transfer of the administrative control of BLIL from Department of Disinvestment to Ministry of Petroleum and Natural Gas,” said Home Minister P. Chidambaram, briefing reporters about the CCEA’s decision.

At present, the board consists of three non-executive government nominee directors and two independent directors.

The reconstituted board of BLIL will have five directors. The director (finance) of Balmer Lawrie & Company (BL) will be ex-offico Director (Finance) of BLIL.

While two directors will be nominated by the Petroleum Ministry, the remaining two independent non-official directors will be appointed by the Centre.