Management Change8 Jul 2026, 03:20 pm
LIC Appoints Prafulla Jaipuria as Nominee Director on OMDC Board
AI Summary
Orissa Minerals Development Company Ltd (OMDC) announced the appointment of Shri Prafulla Jaipuria as the Nominee Director representing Life Insurance Corporation of India (LIC) on its Board. Shri Jaipuria, who is the Secretary General of the Insurance Institute of India, Mumbai, replaces Shri TR Mallick. The appointment was communicated by LIC via a letter dated May 29, 2026, with the Board approving it through a resolution by circulation on July 07, 2026. As Shri Jaipuria is also an Executive Director at LIC, any payments related to his directorship, such as sitting fees, bonus, or commission, will be remitted directly to LIC.
Key Highlights
- LIC appointed Prafulla Jaipuria as Nominee Director.
- He replaces the previous nominee, Shri TR Mallick.
- Appointment is effective from May 29, 2026.
- Directorship payments will be routed to LIC.
- Ensures LIC's representation on OMDC's board.
Price Impact
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