Bharat Heavy Electricals Limited has announced a key leadership transition with the departure of its Director (Human Resources) Shri Krishna Kumar Thakur, effective 19th March, 2026. The change comes as part of a government directive facilitating his appointment to a senior position at NMDC Limited.

Leadership Transition Details

Shri Krishna Kumar Thakur (DIN: 10172666) has relinquished his charge as Director (Human Resources) from BHEL's Board of Directors effective 19th March, 2026 (forenoon). His departure aligns with Ministry of Heavy Industries order no. 1(4)/2019-PE-XI/CPSE.1 dated 18.03.2026, which facilitates his selection as Director (Personnel) in NMDC Limited.

Interim Arrangements

To ensure continuity in operations, BHEL has made immediate arrangements for the Director (Human Resources) position. Shri Tajinder Gupta, Director (Power), has been entrusted with additional charge of the Director (Human Resources) position effective 19th March, 2026 (forenoon), as per MHI order no. 1(4)/2019-PE.XI/CPSE.1(E.19478) dated 18.03.2026.

Regulatory Compliance

The announcement was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. BHEL has provided all required disclosures including:

• Formal relinquishment letter from Shri Krishna Kumar Thakur
• Ministry of Heavy Industries directive
• Complete regulatory information as per Schedule III requirements

Government Directive

The Ministry of Heavy Industries issued the relieving order on 18.03.2026, directing BHEL to relieve Shri Krishna Kumar Thakur at the earliest to enable him to join NMDC Limited as Director (Personnel). This follows the Ministry of Steel's Order No. S-14013/1/2025 – BLA dated 17.03.2026 regarding his appointment at NMDC Limited.

The transition represents a strategic movement of senior talent within government undertakings, ensuring experienced leadership across key public sector enterprises in the heavy industries and steel sectors.

Titagarh Rail Systems Limited has announced strategic board decisions following its meeting held on March 19, 2026, including the approval of a joint venture with Bharat Heavy Electricals Limited (BHEL) for Vande Bharat train maintenance services and corporate guarantee provisions for subsidiary operations.

Joint Venture Approval for Vande Bharat Maintenance

The board has approved the formation of a Joint Venture Company with BHEL as a special purpose vehicle for maintenance obligations of Vande Bharat trains. This initiative stems from the Manufacturing-cum-Maintenance Agreement (MCMA) executed with the Ministry of Railways under the Make-in-India initiative for the Atma Nirbhar Bharat program. The company has authorized Umesh Chowdhary, Vice Chairman and Managing Director, to finalize the Joint Venture Agreement with necessary modifications and nominate TRSL's representative for signing.

Corporate Guarantee for Subsidiary Operations

The board has also approved furnishing a corporate guarantee in favor of Oil and Natural Gas Corporation Ltd. (ONGC) for Titagarh Naval Systems Limited (TNSL), the company's wholly owned subsidiary. This guarantee will enable TNSL to participate in tenders floated by ONGC, expanding the group's presence in the oil and gas sector.

BHEL's Complementary Strategic Initiatives

Corresponding to this partnership, BHEL has made substantial commitments including a ₹3064.46 crore investment in Bharat Coal Gasification and Chemicals Limited (BCGCL) spread over four years, representing a 49% equity shareholding alongside Coal India Limited's 51% stake. Additionally, BHEL has approved organizational restructuring through plant mergers at Haridwar and Hyderabad facilities effective from April 1, 2026.

The board meeting commenced at 2:30 PM and concluded at 3:00 PM on March 19, 2026. These strategic decisions position Titagarh Rail Systems for enhanced participation in India's railway modernization program while expanding its subsidiary's opportunities in the energy sector through ONGC collaborations.