About Public Sector Enterprises
Public Sector Enterprises (PSEs) in India, often referred to as Public Sector Undertakings (PSUs), play a significant role in the country's economy and have a rich history dating back to India's independence in 1947. These enterprises are government-owned or government-controlled corporations engaged in various sectors, including manufacturing, finance, infrastructure, and services. They are established with the goal of promoting economic development, ensuring public welfare, and achieving strategic national objectives.
Public Sector Enterprises have been a cornerstone of India's development journey, playing a crucial role in shaping the country's industrial and economic landscape. While there are challenges and ongoing debates about their role and relevance, they remain essential contributors to India's growth and development, and their evolution is closely tied to the country's economic and social progress.
FICL Working Group (PSUs) / Legal Consultative Group-PSU
During the FICL’s quarterly meeting, it was agreed that a Consultative Group /Working Group for Public Sector Undertakings (PSUs) should be established to facilitate and foster consistent information exchange, share experiences, and enhance knowledge regarding the unique challenges these enterprises encounter.
The first meeting was held at the Indian Oil Corporation Ltd Office, SCOPE Complex, Lodhi Road, New Delhi on 18.10.2023.
The Chief Legal Officers attended the inaugural meeting, Legal Officers from Maharatna, Navratna & Miniratna Public Sector Enterprises (PSU) such as GAIL (India) Limited, Indian Oil Corporation Limited, NTPC Limited, Steel Authority of India Limited, Power Grid Corporation of India, Hindustan Petroleum Corporation Limited, Indraprastha Gas Limited, etc.
After the initial discussions, the members present at the meeting unanimously agreed on the Chair, Vice-Chair and Executive Committee for two years as follows:
1. SB Mathur, Chief Legal, Steel Authority of India
1. Kiran Seth Dhingra, GM Law- Indian Oil Corporation Ltd
2. Amit Jindal, Chief Legal-Directorate General of Hydrocarbons
1. Sandhya Yadav, ONGC
2. RS Chauhan, Pawan Hans Limited
3. Hemant Rajora, IGL
4. Hemant Jain, Powergrid
5. Kumudini, Oil India Limited
6. Navin K Singh, Bharat Petroleum
7. Viswanathan, NTPC
FICL Working Group (PSUs), identified issues of common interest across members which will be taken forward in greater detail such as the harmonisation of contracts, the appointment of a sole arbitrator in light of TRF & Perkins Supreme Court Judgement, the creation of a post of Director (Legal) in PSUs with Government. The Working Group shall be meeting on a monthly basis