MOIL Limited (NSE:MOIL) filed an exchange intimation on 07 August 2026 disclosing that the Government of India, vide order No. S-14011/1/2022-BLA dated 06 August 2026, appointed Shri Lokesh Chandra, IAS, as a Government Nominee Director on the company's board for a period up to 06 March 2027 or until further orders.
Key Highlights
- The Government of India appointed Shri Lokesh Chandra, IAS, as Government Nominee Director on the MOIL board effective 06 August 2026 through order No. S-14011/1/2022-BLA.
- The appointment is valid up to 06 March 2027 or until further orders from the Government of India, whichever is earlier.
- Shri Lokesh Chandra is currently Additional Chief Secretary (Mines), Government of Maharashtra, and CMD of Maharashtra State Electricity Distribution Company Limited.
- The company confirmed that Shri Lokesh Chandra is not related to any director or Key Managerial Personnel and is not debarred by SEBI or any other authority.
About the Company
MOIL Limited (NSE:MOIL) is a Government of India enterprise and one of India's largest producers of manganese ore. Headquartered at MOIL Bhavan, Nagpur, Maharashtra, the company operates ten mines across Maharashtra and Madhya Pradesh, producing manganese ore used primarily in steel manufacturing and allied industries. MOIL is listed on both NSE and BSE and carries CIN No. L99999MH1962GOI012398.
Announcement in Detail
The filing, signed by Company Secretary and Compliance Officer Neeraj Dutt Pandey, states that the Government of India issued order No. S-14011/1/2022-BLA on 06 August 2026 appointing Shri Lokesh Chandra, IAS (1993 Batch), as a Government Nominee Director on the MOIL board. The appointment runs until 06 March 2027 or until further orders, whichever occurs first.
Shri Lokesh Chandra holds a degree in Civil Engineering and an M.Tech (Structures) from IIT Delhi. His prior central government service includes roles as Joint Secretary in the Ministry of Steel and Director in the Ministry of Power between 2008 and 2015. He has also previously served as a Government Nominee Director of MOIL Limited, Commissioner of Nagpur Municipal Corporation, CMD of CIDCO, and Collector of Nagpur, Bhandara, and Gondia districts.
Impact on Investors
Investors will note that this is a board-level governance change initiated by the Government of India, which holds a majority stake in MOIL as the promoter. The appointment does not alter the company's share capital, dividend policy, or any disclosed financial metric. The filing confirms no SEBI debarment or disqualification applies to the incoming director, satisfying the regulatory eligibility conditions under the Companies Act and SEBI Listing Obligations and Disclosure Requirements Regulations.
Shareholders will observe that Shri Lokesh Chandra's background in the Ministry of Steel and his previous tenure as a MOIL Nominee Director may be relevant to understanding the board's sectoral expertise, though the filing makes no forward projections regarding operational or policy outcomes arising from this appointment.
Sector / Market Context
India's steel industry, the primary consumer of manganese ore, remains a significant driver of demand for MOIL's output. The National Steel Policy targets a steelmaking capacity of 300 million tonnes per annum by 2030, according to the Ministry of Steel. Government-nominated directors on the boards of public sector undertakings such as MOIL play a formal oversight role consistent with the Department of Public Enterprises guidelines on corporate governance for central public sector enterprises. The nominee's concurrent role overseeing Maharashtra's mining administration adds relevant sectoral context to his board position.