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Sharika Enterprises Appoints Former NTPC and PFC Veterans as Independent Directors

Dec 29, 2023 13:38 IST, New Delhi, Delhi, India: Sharika Enterprises, a prominent leader in the power sector, has appointed two distinguished industry veterans, Ms. Saroj Chelluri from NTPC Ltd., and Mr. Subir Mulchandani from Power Finance Corporation Ltd (PFC), as Additional Directors (Independent Directors) to its Board. This strategic move, sanctioned by the Board of Directors, is poised to significantly enhance the leadership and governance of Sharika Enterprises.

 

Mr. Subir Mulchandani and Ms. Saroj Chelluri

Ms. Saroj Chelluri brings a wealth of experience to the Board, having held important roles at NTPC Ltd. Her expertise spans project engineering, project management, and the implementation of cutting-edge technologies. Holding the 2024 Certificate of Membership. IEEE Power & Energy Society, Ms. Chelluri is actively involved in energy transition initiatives such as Green Hydrogen, Carbon Capture, and Methanol Economy, showcasing her dedication to sustainable solutions in the industry. Sharika Enterprises stands to benefit from her strategic insights and extensive experience as it continues its expansion and innovation in the power sector.

Mr. Subir Mulchandani, a seasoned professional with a commendable 36 years in finance and the power sector, joins the Board to further fortify Sharika Enterprises. His notable tenure as Executive Director at PFC highlights his instrumental role in shaping policies for borrower appraisal and promoter appraisal of State Power Utilities. Mr. Mulchandani’s financial acumen and strategic planning expertise will contribute significantly to the company’s decision-making processes.

In addition to these appointments, Sharika Enterprises has announced a strategic focus on power distribution automation. The company plans to establish a state-of-the-art centre of excellence in Bengaluru, dedicated to training industry professionals in the latest technologies. This initiative underscores Sharika Enterprises’ commitment to advancing the power sector and playing a significant role in shaping the future of power distribution and automation in India.

Renowned for its comprehensive solutions and services, Sharika Enterprises has earned a strong reputation in various power sector projects. The company now offers highly skilled services, including extra high voltage cable laying, jointing, and online maintenance of power field devices like transformers, cables, and switchgear, addressing the evolving demands of India’s power sector. Mr. Rajinder Kaul, Chairman & Managing Director of Sharika Enterprises Ltd., while sharing the insights into the company’s journey, said, “Our story began in 2000 as a consultancy for foreign principals, primarily focusing on the power sector, especially Extra High Voltage Cables in India. Over the years, we’ve identified technological gaps for cables and transformers, leading to partnerships with esteemed foreign companies such as LS Cable from S. Korea and Elettromeccanica from Italy. This journey reflects our commitment to bridging technological gaps and making impactful strides in India’s power landscape.”

Mr. Kaul, known as the “Cable Man”, identified opportunities for Korean companies to offer advanced yet cost-effective solutions in India’s power sector, leading to the establishment of Sharika Enterprises.

Mr. Kaul is actively involved in upcoming projects for the next five years, including the acquisition of the esteemed 132/33kV Gas Insulated Substation (GIS) turnkey project from J&K Power Transportation Limited in Srinagar. This project aims to ensure uninterrupted power to the Z-Morh Tunnel, contributing to critical infrastructure development and enhancing the company’s position for investors and the public.

Highlighting the company’s commitment to digital solutions, Mr. Kaul emphasises their focus on distribution automation for the next five to ten years, actively engaging in solar street lights, solar rooftops, and closely monitoring energy generation. Sharika Enterprises is strategically concentrating on the Revamped Distribution Sector Scheme (RDSS) scheme of the Government of India, aiming to automate distribution networks and solidify its role in advancing the power sector. The company’s unwavering pursuit of excellence positions it as an attractive prospect for both the public and potential investors.