Board Composition & Meetings
GE Power India Limited
Board Structure
& Policies
Board Composition
Non Executive Chairman
Mr. Craig Martin Richards
Craig currently serves as the Major Projects Leader for Steam Power globally. He brings 25+ years of leadership experience in the steam power industry with experience of Manufacturing, EPC Projects, Boilers and Service businesses as well as change management and transformation leadership.
In his current role, Craig leads the execution of the Steam Power New Build projects portfolio globally (excluding India) involving Turbine Island, Boiler, Synchronous Condenser and Emission Controls Projects.
He has a successful track record of driving focus and operational rigor in a transparent and collaborative manner while empowering and holding teams accountable. Craig’s experience within the Steam business includes global roles serving as the India New Build Leader, EPC Project CFO, Boiler CFO and the Strategic Projects leader.
Craig holds a degree in International Business & Finance from Leeds University, United Kingdom.
Managing Director
Mr. Puneet Bhatla
Puneet is currently leading the Steam Power India Growth Areas (core and upgrade Service, Air Quality Control equipment and Durgapur manufacturing) for Steam Power India business. In this role, Puneet is responsible for developing and driving the business profitability in the region, executing the operational business plan, owning the lifecycle customer experience from order to execution and people leadership. Prior to his current role, Puneet was leading the India Services Operations team as Executive Leader at GE Steam Power.
Puneet has more than 35 years of extensive experience working with premier power sector companies including NTPC Limited, Bharat Heavy Electricals Limited and Siemens India Limited in engineering, product management, project execution, business management/development, JV negotiations, technical licensing management functions for Steam turbines, Nuclear Steam Turbines as well as Gas Turbines.
Whole Time Director
Mr. Shrikar Thakur
Mr. Shrikar Thakur serves as India New Build Leader, with responsibility for the execution, profitability, and strategic delivery of large-scale power generation and EPC projects across India. In this role, he leads multidisciplinary teams, with a strong focus on operational excellence, customer satisfaction, and business performance.
He brings over 17 years of international experience in the power, infrastructure, manufacturing, and EPC sectors. Throughout his career, he has held leadership positions across India, France, and the United States, spanning project execution, supply chain management, business strategy, operational transformation, and portfolio governance. Prior to his current role, he served as Project Management Office (PMO) Leader for Steam Power India, where he established the regional PMO function, strengthened project governance, enhanced portfolio predictability, and drove Lean transformation initiatives across a complex project portfolio. Before joining the Company, Shrikar held positions with Alstom Bharat Forge JV and the Kalyani Group, gaining experience in project management, business development, and industrial operations.
Over the course of his career, he has successfully led large-scale projects, manufacturing initiatives, and strategic transformation programs, delivering sustained improvements in safety, execution, operational performance, and financial outcomes.
Non-Executive Independent Director
Ms. Shukla Wassan
Ms. Shukla Wassan is a Fellow Member of Institute of Company Secretaries of India & Chartered Institute of Arbitrators, UK. She is also a Law Graduate and an internationally accredited Mediator and a Corporate Advisor.
She has served on several Boards in India, Nepal, Bangladesh & Sri Lanka. She has also been the Chairperson of companies in Nepal (Listed) and Bangladesh. She is presently an Independent Director on the Boards of Kwality Wall’s India Ltd and India Glycols Limited.
During her diverse career spanning over four decades, she has been part of the leadership team of multinational
companies – including Hindustan Coca-Cola Beverages Pvt Ltd, Xerox India Ltd and Reckitt Benckiser Ltd. Her wide
range of areas of expertise includes Merger & Acquisition, Joint Ventures, Strategic Alliances, Intellectual Property,
Competition Law, Corporate Governance and Corporate Social Responsibilities.
She is a recipient of several national and international awards. She is presently a Governing Council Member of the
International Arbitration & Mediation Centre, Hyderabad, Member of the Chamber of the Arbitration of India
International Arbitration Centre, Delhi and Committee Member of CII National Committee on Legal. She is also a
founding member of the General Counsel Association of India and mentors’ senior corporate leaders
.
Non-Executive Independent Director
Mr. Ashok Kumar Barat
Mr. Ashok Kumar Barat, aged 67 years is the Fellow member of Institute of Chartered Accountants of India and Institute of Company Secretaries of India and also an Associate of Institute of Chartered Accountants of England & Wales.
He has held executive leadership positions in various Indian and multinational organizations, in India and overseas. He holds experience of working with various companies like Hindustan Unilever, Exide, RPG Group, Saud Bahwan Group, Pepsi, Electrolux and Heinz. He concluded his executive career as the Managing Director and CEO of Forbes & Company Limited. His professional experiences encompass functional, operational (including P&L), and governance roles. His major functional influence and impact areas are finance, M&A, strategy, audit, management assurance and governance. He has experience in working in diverse roles including operational, staff and stewardship across different industries like FMCG, manufacturing services, and technology. Has effectively led complex commercial, M&A, alliances, dispute negotiations and business transformation projects
He has also been the past president of Bombay Chamber of Commerce and Industry, and The Council of EU Chambers of Commerce in India. He is currently a member of the Managing Committee of ASSOCHAM and special invitee to the Managing Committee of Bengal Chamber of Commerce & Industry.
Presently, he is a Board member of listed and unlisted entities which inter-alia includes Bata India Limited, Huhtamaki India Limited, Alembic Pharmaceuticals Limited, Mahindra Accelo Limited, JSW Paints Private Limited.
NON-EXECUTIVE INDEPENDENT DIRETCOR
Mr. Neeraj Kumar Nanda
Mr. Neeraj Kumar Nanda, aged 63 years, has completed his Executive MBA from INSEAD France, Post Graduation in Import/Export Management from Indian Institute of Foreign Trade (IIFT) and B.E. (Mechanical) from Devi Ahilya University, Indore.
Mr. Nanda has over 41 years of global experience in Marketing, Sales, Projects and P&L Management across
the Power sector value chain, with MNCs including ABB, Alstom and BHEL. Mr. Neeraj Kumar Nanda served as
the President – South Asia for Transmission & Distribution and Solar businesses at KEC International Ltd., an RPG Group Company. He has diverse international experience across Middle East (UAE, KSA, Iraq, Jordon, etc.) and SAARC countries; he has worked across sectors including Petroleum, Gas, Coal, Energy, Power Generation and Power Plants. Mr. Nanda is also very active on Industry Forums like CII, IEEMA, etc.
Committee Composition
Nomination & Remuneration Committee:
Ms. Shukla Wassan - Chairperson
Mr. Craig Martin Richards – Member
Mr. Ashok Kumar Barat- Member
Mr. Neeraj Kumar Nanda - Member
Strategy & Innovation Committee:
Mr. Neeraj Kumar Nanda, Chairman
Mr. Puneet Bhatla - Member
Mr. Ashok Kumar Barat - Member
Ms. Shukla Wassan - Member
Mr. Benu Pillai - Member
Mr. Rahul Rojal - Member
Mr. Shrikar Thakur - Member
Audit Committee:
Mr. Ashok Kumar Barat – Chairman
Ms. Shukla Wassan - Member
Mr. Craig Martin Richards – Member
Mr. Neeraj Kumar Nanda - Member
Risk Management Committee:
Mr. Craig Martin Richards – Chairman
Mr. Ashok Kumar Barat – Member
Mr. Puneet Bhatla – Member
Mr. Rahul Rojal - Member
Mr. Shrikar Thakur - Member
Stakeholders Relationship Committee:
Ms. Shukla Wassan – Chairperson
Mr. Puneet Bhatla - Member
Mr. Shrikar Thakur - Member
Senior Management
Management List
Proasheem Suleebka
Head Contract Management
Rajib Ghosh
Factory Head- Durgapur
Benu Pillai
Engineering Leader
Rahul Rojal
Chief Financial Officer
Ranjita Singh
HR Leader
Vipul Sharma
Company Secretary & Compliance Officer
Policies & Procedures
Code of Conduct
Applicability
This 'Code of Conduct' shall be applicable to all Board Members and Senior Management of GE Power India Limited (hereinafter referred to as ‘the Company’) Senior Management means all members of management one level below the Managing Director viz. all Functional Heads, Business Heads, Heads of Finance, HR, Legal, IT, Communications etc. including the Company Secretary and Chief Financial Officer.
Conduct of Business
The Board Members and the Senior Management team shall conduct the Company's business in an efficient and transparent manner and in meeting its obligations to shareholders and other stakeholders.
The Board Members and the Senior Management team shall not be involved in any activity that would have any adverse effect on the objectives of the Company or against the national interest. The corporate objectives to be pursued shall be to sustain the competitive edge of the Company and not to indulge in any activity, which is detrimental to the society at large. The Board of Directors and Senior Management shall conduct themselves so as to meet the expectations of operational transparency to stakeholders while at the same time maintaining confidentiality of information in order to foster a culture of good decision-making.
Quality Products and Services
The Board Members and the Senior Management team shall be committed to supply products and services of the highest quality standard backed by effective after sales services as per the requirements of the customers to ensure their total satisfaction. The quality standards shall meet the national/international standards.
Competition
The Board as well as the Senior Management team shall ensure that the Company's products and services are made available to the customers freely and shall not make any misleading statement about the competitors' products and services or indulge in any unfair trade practices.
Wealth Creation
The Board Members and the Senior Management team shall be committed to enhance the shareholders' worth/value and shall strictly comply with all regulations and laws that govern shareholders' rights. The Board shall duly and fairly inform the shareholders all relevant aspects about the Company's business and disclose such information as may be required, from time to time, in accordance with the applicable rules and regulations.
6a. Declarations to the Board
A Board Member shall not take membership of more than such number of committees or act as Chairman of more than such number of committees across all companies as is prescribed under applicable law or provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended from time to time. Every Board Member shall inform the Board of all such membership at the beginning of each financial year and also of every change as and when they take place.
The Board Members and the Senior Management team shall inform their equity holding in the Company and any changes that may take place and shall not indulge in any trading of the securities of the Company which would come within the purview of the Company's Insider Trading Code. In case of any agreement or contract which is or shall be entered into by and between two corporate entities, in which a Director is interested, the Director shall forthwith draw the attention of the Board about the fact and shall not participate in the deliberations nor vote on the resolution relating to the same.
6b. Duties of Independent Directors shall be to:
• Undertake appropriate induction and regularly update and refresh their skills, knowledge, and familiarity with the Company;
• Seek appropriate clarification or amplification of information and, where necessary, take and follow appropriate professional advice and opinion of outside experts at the expense of the Company;
• Strive to attend all meetings of the Board of Directors and of the Board committees of which he is a member;
• Participate constructively and actively in the committees of the Board in which they are chairpersons or members;
• Strive to attend the general meetings of the Company;
• Where they have concerns about the running of the Company or a proposed action, ensure that these are addressed by the Board and, to the extent that they are not resolved, insist that their concerns are recorded in the minutes of the Board meeting;
• Keep themselves well informed about the Company and the external environment in which it operates;
Not to unfairly obstruct the functioning of an otherwise proper Board or committee of the Board;
• Pay sufficient attention and ensure that adequate deliberations are held before approving related party transactions and assure themselves that the same are in the interest of the Company;
• Ascertain and ensure that the Company has an adequate and functional vigil mechanism and to ensure that the interests of a person who uses such mechanism are not prejudicially affected on account of such use;
• Report concerns about unethical behaviour, actual or suspected fraud or violation of the Company's code of conduct or ethics policy;
• Acting within their authority, assist in protecting the legitimate interests of the Company, shareholders and its employees;
• Not disclose confidential information, including commercial secrets, technologies, advertising and sales promotion plans, unpublished price sensitive information, unless such disclosure is expressly approved by the Board or required by law.
Financial reporting and disclosures to the regulatory authorities, government agencies, etc.
The Board of Directors shall ensure that the financial statements and reporting, made on behalf of the Company, do not contain any untrue statement or omit any material fact or content that might be misleading and shall strive to present a true and fair view of the Company's affairs in compliance with the prevailing Accounting Standards, applicable laws and regulations.
Conflict of Interest
The Board Members and the Senior Management team shall not engage in any activity or enter into any pecuniary relationship, which might result in conflict of interest, either directly or indirectly. The Board Members and the Senior Management team shall not derive any personal benefit by influencing any decision relating to any transaction or involve in any dealing with the Company's promoters, its management or its subsidiaries, suppliers, shareholders and other stakeholders which, in the judgment of the Board, may affect the independence of judgment of the Director concerned.
Security Transaction & Confidential Information
The Board Members and the Senior Management team and their immediate relatives as defined under Company’s Insider Trading Code as amended from time to time, shall not derive any benefit or assist others to derive any benefit from the access to and possession of information about the affairs of the Company which is not in public domain and thus, constitute insider information. Insider information means Unpublished Price Sensitive Information as defined under Company’s Insider Trading Code.
The Board Members and the Senior Management team shall not enter into any agreement for himself/herself or on behalf of any other person, with any shareholder or any other third party with regard to compensation or profit sharing in connection with dealings in the securities of the Company, unless prior approval for the same has been obtained from the Board of Directors as well as members of the Company by way of an ordinary resolution.
Protecting Company's Assets
The Directors and the Senior Management team shall not indulge or encourage any activity, which would result in misuse of the Company's assets. This would include both tangible and intangible assets such as equipment, machinery, systems, material resources, intellectual property rights, goodwill, trademarks, patents, etc.
Outside Activities
All Board Members as well as the Senior Management team shall be free to pursue any kind of civil/political activities and can become Members or Office Bearers of any Trade Organisation so long as it does not adversely affect or is detrimental to the business interests of the Company.
Reporting
The Directors and the Senior Management team shall immediately bring to the notice of the Board about any unethical behaviour, actual or suspected fraud or violation of Company's policies.
Gifts & Donations
The Board Members and the Senior Management team shall neither receive nor offer or make directly/indirectly any illegal payments, gifts, donations or any benefits which are intended to obtain business or unethical favours save and except nominal gifts which are customary in nature or associated with festivals.
Compensation and Disclosures
The fees and compensation payable to the Board Members (both executive and non-executive) shall be fixed in accordance with the approvals as per the applicable provisions of law and the same will be fully disclosed in the Annual Report to the Members
Adoption and Commencement
This Code of Conduct was adopted by the Board of Directors by a Resolution dated 28 February 2005 passed by circulation and shall be deemed to have come into force with effect from 1 April 2005.
This policy was amended vide Board resolution dated 27 September 2014 and the amended policy shall come into force with effect from 01 October 2014.
Further this policy was amended vide Board resolution dated 29 March 2019 and the amended policy shall come into force with effect from 01 April 2019.