Which among the following Public Sector Undertaking (PSU) is granted with Maharatna status along with the Bharat Heavy Electricals Limited (BHEL)?
[A]Power Finance Corporation Limited (PFCL)
[B]Hindustan Aeronautics Limited (HAL)
[C]Gas Authority of India Limited (GAIL)
[D]Hindustan Petroleum Corporation Limited (HPCL)
Gas Authority of India Limited (GAIL)
The government granted Maharatna status to BHEL and GAIL, a development which will provide them greater financial and functional autonomy and also ensure better valuation for shares of the two public sector undertakings. A Maharatna firm can take investment decision of up to Rs. 5,000 crore without going to the government. This limit is Rs. 1,000 crore for Navratna firms. However, both these PSUs do not have the requisite number of non-official directors on its board and are therefore not eligible to exercise the Maharatna powers till the time required number of officials are appointed on their boards.