New Delhi, Aug 5, 2026 — In a move to deepen governance at KIOCL Limited, the Ministry of Steel has appointed three Non-Official Independent Directors to the company’s board for a three-year term, effective from July 14, 2026 or until further orders. The appointees are Rakesh Modi, Subhash Chandra Saraf and Avtar Singh, whose appointments are intended to bring independent oversight to the board’s deliberations.
Rakesh Modi brings a background rooted in public administration and civic leadership, with leadership roles across social and charitable organizations, including positions with the Indian Red Cross Society and regional governance bodies. The appointment notice confirms he is not related to any current director at KIOCL and is not debarred from holding the office of Director by SEBI or any other authority.
Subhash Chandra Saraf comes to the board with more than four decades of experience spanning audit, direct and indirect taxes, international tax planning, mergers and acquisitions, and risk and controls. He has previously served as an Independent Director of Navratna CPSEs NBCC and STC, reinforcing his track record in governance and strategic oversight. He is likewise disclosed as not related to any KIOCL director and not debarred.
Avtar Singh offers a global exposure in the pharmaceutical sector, with about 18 years in marketing and sales across northern and western regions, alongside notable local governance roles such as Sarpanch and district-level development council posts in Jammu & Kashmir. Like the others, he is not related to any existing director and is not debarred from holding the office of Director. These appointments, issued under the Ministry of Steel order No. 1/1/2026-BLA dated 14 July 2026, reflect a policy-driven effort to strengthen independent governance on KIOCL’s board for a three-year term.