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Mr. V S Jain completed his 3 year assignment as a Member, Public Enterprises Selection Board (PESB) in July, 2011. PESB essentially advises Government on appointments to top management posts at the Board level.


Prior to this, he superannuated in July, 2006 as Chairman, Steel Authority of India (SAIL), a Government of India company with a turnover of over Rs.50,000 crores. SAIL owns and operates 5 integrated steel plants, 3 special steel plants and operates wide distribution network through its own stockyards and dealers through 130,000 employees.


Harward Business Review recognized Mr. Jain as the Best Performing 100 Global CEOs during the years 1995-2011 based on the criteria of shareholder returns and market capitalization of SAIL.


On superannuation from SAIL, Mr. Jain worked briefly for 1.5 years for Jindal Stainless Ltd as Managing Director & CEO of the largest stainless steel producer in the country.

Mr. Jain began his professional career with Indian Oil Corporation, the largest petroleum company in the country, where he spent 26 years in various capacities. He was responsible for financial strategies and implementation thereof, and also financial appraisal of projects. As Executive Director of the Organization, his responsibilities included international negotiations for procurement of crude and petroleum products.


He also contributed considerably in formulating the corporate policies and developing plans for the Organization.


He is independent director on the Boards of Dalmia Bharat Ltd, Rashtriya Ispat Nigam Limited, Essar Oil Ltd, and National Multi-Commodity Exchange of India Ltd. He is also on the panel of Independent External Monitors for monitoring the compliance of Integrity Pact in NTPC and IOC.


Mr. Jain is a fellow member of the Institute of Chartered Accountants of India as well as the Institute of Cost & Works Accountants of India.

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