The Petroleum and natural gas ministry has proposed that Indian Oil Corporation chairman SM Vaidya be given an additional tenure of two years after August when he turns 60 and is scheduled to retire. PESB rejected all ten candidates it had interviewed for the position of IOC chairman on May 16 and advised the ministry to seek an alternative selection mechanism, setting off speculation that Vaidya could get an extension.
IOC chairman SM Vaidya likely to get rare tenure extension.
