Jajpur, November 15 (Odisha.in) The managing director of Nilachal Ispat Nigam Limited (NINL), B.P Modi has resigned from his post.
He has sent his resignation on Wednesday afternoon in a fax message to the corporate office of NINL and Materials and Mineral Trading Corporation (MMTC) corporate office at New Delhi.
NINL is a joint venture between MMTC Ltd that owns 50 per cent stake and 26 per cent of the Orissa Government.
The lone public sector steel company at Kalinga Nagar, the steel hub of India in Orissa’s Jajpur district went into commercial production a couple of years ago. NINL was handed over to Government of Orissa by the Centre for a token consideration of Rs.1 only in April 1, 1994.
According to reliable sources, Modi is said to have resigned following an allegation reportedly made by the Nilachal Officers’ Association over finalization of tenders.
The association had alleged Modi of favoring some tender holders selected for raising iron ore in the company’s own mines at Koida in mineral rich Keonjhar district.
“Following the instructions of S R Jain, chairman of NINL, Modi has resigned,” a source close to him, said.