Decks have been cleared for acting chairman D K Mehrotra to become the regular chairman of Life Insurance Corporation, as the finance ministry has decided to send his name to the Appointment Committee of Cabinet (ACC) for final approval.A senior finance ministry official said on Tuesday that Mehrotra has been cleared by a high-level committee headed by finance secretary R S Gujral. "His name is now being sent for ACC approval," the official said.
On October 29, the panel had interviewed five candidates in its bid to select the regular chairman for the country's largest insurer, founded in 1956.
Besides Mehrotra, the candidates interviewed were Sushobhan Sarkar (executive director, international operations), D Vijayalakshmi (executive director, investment), Thangam Matthew (executive director, underwriting and reinsurance) and D D Singh (zonal manager, south).
The selection panel comprised department of personnel &