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Updated as on 28/08/2018

FOIR is led by people with vast experience in the Power industry, technological competence in software development and an outstanding track record in project relevant. Their expertise extends to key areas such as Power, Finance, Administration and General Management.

Office Bearers of The Governing Body of FOIR

Hony. Chairman
Shri S. Machendranathan
Shri S. Machendranathan, Chairperson, AERA

Shri S. Machendranathan , took over as Chairperson, Airports Economic Regulatory Authority of India on 9 th March, 2015.

Shri Machendranathan who hails from Tirunelveli District, Tamil Nadu had a distinguished academic career. After completing MBA from Cochin University, he joined the Indian Police Service (IPS) in 1977 and thereafter the Indian Administrative Service (IAS) in 1979.


An IAS officer of the Tamil Nadu cadre, Shri S. Machendranathan held several important positions in the Government of Tamil Nadu and in the Government of India. In the Government of Tamil Nadu, he worked as Collector of Thanjavur District; Commissioner/ Secretary to the Government of Tamil Nadu in the Departments of Transport, Food, Cooperation and Consumer Protection; Chairman of Tamil Nadu Electricity Board. And in the Government of India, he worked as Chairman of Tuticorin Port Trust; Additional Secretary & Financial Advisor in the Ministry of Steel as well as in the Ministry of Civil Aviation and finally as Secretary (Coordination) in Cabinet Secretariat, before superannuating from the Government Service in March, 2014.

He has also served as Government Director in several Public Sector companies such as Air India, Airports Authority of India, Steel Authority of India Limited, Rashtriya Ispat Nigam Limited, Kudremukh Iron Ore Company Limited and Metallurgical & Engineering Consultants (India) Limited.

Hony. Vice-Chairman
Shri R.S. Sharma
Shri R.S. Sharma, Chairperson, TRAI

Shri R.S. Sharma joined as Chairman, Telecom Regulatory Authority of India (TRAI) on 10th of August, 2015.

Prior to joining TRAI Shri R.S. Sharma was working as Secretary to Government of India in the Department of Electronics and Information Technology. He has also worked as Chief Secretary to the State Government of Jharkhand (India).


His other assignments include Director General & Mission Director of the Unique Identification Authority of India (UIDAI) where he was responsible for over-all implementation of this ambitious and challenging project undertaken by the Government of India for providing Unique Identification (christened as Äadhaar”) to all its Residents. Before his posting at UIDAI, Mr. Sharma worked with the Government of Jharkhand as Principal Secretary of the Departments of Science and Technology, Drinking Water & Sanitation, Information Technology (IT), Rural Development and Human Resources Development. Mr. Sharma has held important positions both in the Government of India and State Governments in the past and has been deeply involved in the administrative reforms and leveraging IT to simplify the administrative processes. Mr. Sharma holds a Masters Degree in Mathematics from IIT, Kanpur (India) and another Masters in Computer Science from the University of California (USA).

Dr MS Sahoo
Dr MS Sahoo Chairperson IBBI

Dr MS Sahoo an acclaimed thought leader in the area of securities markets and a distinguished public servant, currently serves as Chairperson of the Insolvency and Bankruptcy Board of India. He has served as a Member of the Competition Commission of India, Secretary of the Institute of Company Secretaries of India, Whole Time Member of the Securities and Exchange Board of India, Economic Adviser with the National Stock Exchange of India and held senior positions in Government of India as a Member of Indian Economic Service. He also had a brief, but eventful legal practice.


Dr. Sahoo has substantially influenced reforms in India securities markets over the last two decades. He has conceptualized, designed and steered major reforms such as dematerialisation of securities (1995), architecture of regulator and regulatory tribunal (1995), trading of derivatives (1999), on-line examination for market professionals (2000), setting up National Institute of Securities Markets (2004), resolution of litigations relating to brokers' fee (2004), demutualization of stock exchanges (2005), trading of currency derivatives (2008), and the rule of law in securities markets. He is credited with a few landmark orders, including disgorgement, and settlement of securities market infractions, and significantly contributed to development of securities jurisprudence.

Dr. Sahoo has conceptualized, designed, authored and edited several publications relating to securities markets and corporate sector, including Indian Securities Market-A Review, NSE Research Initiative, Stock Exchange Factbook, SEBI Bulletin, and edited a professional journal, Chartered Secretary. He has delivered talks at various national and international fora and written over 100 articles. He has promoted extensive use of technology in education and examinations in company secretary course and NSE's Certification in Financial Markets (NCFM).

Dr. Sahoo has been a Member / Chairman of several committees set up by Ministry of Finance, SEBI, RBI, IRDAI, and WDRA. These include Chairman of the Committees (Sahoo Committee I, II and III) on Depository Receipts, Domestic and Overseas Capital Markets, and External Commercial Borrowing. He has assisted in development and refinement of the Indian Financial Code (IFC) recommended by the Financial Sector Legislative Reforms Commission (FSLRC). He has served on Boards of a few organisations, including Oriental Bank of Commerce, Management Development Institute, National Institute of Securities Markets, SEBI and CCI. Dr. Sahoo has post-graduation degrees in Economics, Law, Management and Company Secretaryship.

Shri D.K. Sarraf
Shri D.K. Sarraf, Chairperson, PNGRB

Shri D.K. Sarraf, Iborn on 3 September, 1957. Shri Dinesh Sarraf graduated in Commerce from Shri Ram College of Commerce, University of Delhi and did his post-graduation from the same University. Shri Sarraf is an Associate Member of Institute of Cost Accountants of India and Institute of Company Secretaries of India.


He has experience of three-and-a-half decades in the oil and gas industry, having started his oil and gas career in Oil India Limited and worked there until 1991 where he inculcated the experience in various facets of E&P at oil field level. Thereafter he joined ONGC and handled various key assignments at corporate offices. These included, converting ONGC from a statutory commission into a commercial corporation, its financial restructuring and valuation.

During the years 1997-2000, Shri Sarraf worked in Oil Coordination Committee of the Government of India where he got the industry-wide experience on Indian oil and gas sector. He played a major role in drafting the map for deregulating Indian oil and gas sector.

Shri Sarraf worked in ONGC Videsh Limited as Director (Finance) during February 2005 to December 2007. During this period, Mr Sarraf played key roles in negotiation and conclusion of significant acquisition transactions in Syria, Brazil, Colombia, Venezuela, Cuba, Egypt and Myanmar. ONGC Videsh experienced significant increase in its activities, production, revenue and profits during this period.

During December 2007 to August 2011, he worked as Director Finance of ONGC and its Group CFO. He introduced robust governance systems in ONGC and led several systematic improvements. In recognition of his achievements, he was given the Best CFO Award in Indian Oil & Gas sector by CNBC in 2009 and 2011.

Shri Sarraf assumed the charge of Managing Director and CEO of ONGC Videsh Limited in September 2011. As MD & CEO, ONGC Videsh Limited, he institutionalized systems and processes to ensure attainment of the committed targets. He introduced the concept of 'zero-based risk review' mechanism for risk assessment in major acquisitions and mitigation of the risks. He led company's major acquisitions, like Block BC-10 Brazil, NEMED Block Egypt, AFPC Project Syria, MECL Project Columbia, Rovuma Area I Block in Mozambique offshore etc.; and guided the negotiating team for other acquisitions, resulting in substantial savings. He was awarded the CEPM-PMA fellowship on December 2, 2013 by the Project Management Associates - India (PMA - India).

During March 2014 to September 2017, Shri Sarraf was the Chairman and Managing Director of ONGC and Chairman of its Group companies – ONGC Videsh Ltd; Mangalore Refinery and Petrochemicals Ltd; ONGC Petro-additions Ltd; ONGC Mangalore Petrochemicals Ltd; Mangalore SEZ Ltd; ONGC Tripura Power Company Ltd. and a director on the Board of Petronet LNG Ltd. He was also the President, Global Compact Network India and Chairman, Petrotech Society and Federation of Indian Petroleum Industry.

He is a member of the Governing body of CSIR – Council of Scientific and Industrial Research.

He led the ONGC in one of the most difficult periods of low oil and gas prices, did not let the fresh investments in the business slow down, led formulation of several mega projects and their implementation, revived declining production trend, led increase in organization-wide efficiency, kept the morale of the employees high even in otherwise difficult environment, gave emphasis on encouraging start-ups, research and development and industry-academia collaboration, etc.

Shri Sarraf was conferred Honorary Doctor of Philosophy (DPhil) Degree by the Amity University in 2017. Shri Sarraf joined PNGRB as the Chairperson on 4th December, 2017.

Shri P.K. Pujari
Shri P.K. Pujari, Chairperson, CERCI

Shri P.K. Pujari (Gujarat 1981), A Post Graduate in Economics from Delhi School of Economics, Shri P.K. Pujari joined the Indian Administrative Service (IAS), the premier civil service of India in 1981 and was allotted Gujarat cadre. During his career, he handled assignments in various departments/ministries in Gujarat as well as Central Government, such as power, commercial taxes, finance and industries. He was Secretary to Government of India, Ministry of Power for more than two years before his superannuation in 2017, after serving for 36 years.


Some of the key assignments in the field of finance and industries were (i) financial resource forecast, expenditure planning, annual budget preparation, debt and guarantee management; (ii) transition from sales tax to value addition tax (VAT), administration of commercial taxes by simplifying processes and making it enabled; and (iii) Setting up and marketing industrial estates and special economic zones.

He worked in the power sector for more than seven years, as Director and Secretary. As Director he was involved in developing policy framework for participation of private power utilities in generation and distribution. During his tenure as Secretary (2015-17), maximum generation capacity and inter-state transmission capacity was added in the country, resulting in one nation - one grid - one price.

As Secretary, he initiated and concluded a number of far reaching initiatives and policy changes. These include electrification of all the remaining 18,452 villages (as on 1.4.2015), launching of "UDAY" for sustainable operational and financial turnaround of discoms, revised Tariff Policy 2016, new coal linkage policy for power plants, revised National Electricity Plan, XIX electricity power survey, revised- bid documents for UMPPs, revised power allocation formula for states from cg stations, formulation of new hydro-power policy, formulation of the new policy for universal households electrification by 2019, policy guidelines for integration of renewable energy into the grid, revised rules for captive generators, finalisation of the report for rationalisation of tariff structure and tariff categories.

During his tenure, the guidelines for cross border trade of power with neighbouring countries got finalised. The cross border transmission lines also got augmented substantially. This facilitated increased trade of power with Bhutan, Nepal and Bangladesh. Power trade with Myanmar started for the first time. Talks started for sub-marine cable connection with Srilanka. He led the Indian side for the bilateral talks on power trade with these countries.

He was closely associated with the signing of the International Solar Alliance Framework Agreement during COP22 in Marrakech. He led the Indian delegation for the 2nd BRICS Energy Ministerial Summit and also for the 8th Clean Energy Ministerial (CEM) Summit at Beijing.

His interests include reading books, sports and listening to music. He has been appointed Chairman of the Central Electricity Regulatory Commission in February, 2018.

Chairperson, CCI




Chairperson, WDRA




Chairperson, TAMP




Shri Anand Kumar
Shri Anand Kumar, Chairperson, GERC

Shri Anand Kumar has taken over as Chairperson, Gujarat Electricity Regulatory Commission on 5th April, 2016. Before joining Gujarat State, he has served the State of Meghalaya as Chairperson-ERC and State of Uttarakhand as Member/Acting Chairperson.


He holds a post-graduate degree in Finance Management and Graduate degree in Electrical Engineering from IIT-Roorkee. He has also done Advanced Software Programming Course from Hitachi, Japan and training in Economics Regulation from National Regulatory Research Institute, USA.He has more than 36 years of experience in the Power Sector of which 18 years of experience has been at Regulations, Reforms and Restructuring in the Power sector. Out of some key assignments, was his association in Unbundling and Restructuring of the power sector in Uttar Pradesh and assignments at Regulatory Commissions of Uttar Pradesh, Uttarakhand and Meghalaya.

Shri S. Akshayakumar, Chairperson, TNERC




Shri Jagjeet Singh
Shri Jagjeet Singh, Chairperson, HERC

Shri Jagjeet Singh took over as Chairman of the Haryana Electricity Regulatory Commission on 17.8.2014. He holds Master’s Degree in Business Administration (M.B.A),Human Resources, Public Administration and Military Studies. Shri Jagjeet Singh joined Haryana Govt. service in 1984 and retired in 2012. He also headed Public undertakings in the State and worked as Member Secretary in Haryana Khadi & Village Industry Board government undertaking also. Apart from Govt. service, he has a vast experience in management of Factories as he remained in business prior to joining govt. service. He has been instrumental in framing various beneficial policies and programmes for the multifaceted growth of various sections of society and overall development of the State in the field of Technology and Administrative Management. He has paid obeisance to almost all the famous temples and has widely travelled in various parts of India and is a religious and pious personality. He has also visited number of countries in connection with official assignments.


His vision is that continuous and cheap supply of electricity to industry sector as well as to agricultural sector is must for overall growth of Haryana and to provide employment to skilled as well as unskilled youth. During his tenure as Chairman, various Regulations have been framed which have benefitted the consumers. He has attended various seminars/workshops and meetings at national and inter-national level. During his able guidance, HERC has been awarded with National Award-2015 for the empowerment of persons with disabilities best accessible website has been awarded by the Govt. of India.

Mr. Singh believes in integrity, honesty and humility as the only policy for enduring business success. Under his able guidance and leadership, many units were established in Haryana with the assistance of Khadi and Village Industry Board Haryana. He has been nominated as Vice Chairman of the FOIR in July,2018.

Hony. Members
Shri G. Rajagopal
Shri G. Rajagopal, Member, TNERC

Thiru G.Rajagopal holds Post Graduate Degree in Commerce with distinction and also the professional qualification of Fellowship in Cost and Management Accounts of India and also associate member of the Company Secretariatship. Thiru G.Rajagopal received Dr.Radhakrishnan Memorail Award for outstanding studies in M.Com., Thiru G.Rajagopal has participated at various sports events, including All India Public Sector Sports and Games meet.


He started his career in Power Sector in the year 1983 in Neyveli Lignite Power Corporation Ltd., a Public Sector Power Generating Company. He then joined Tamil Nadu Electricity Board in the year 1997 as a Deputy Financial Controller on direct recruitment. He was promoted as Financial Controller in the year 2003 and in the year 2006 got elevated to the post of Chief Financial Controller. Then he was appointed by the Government of Tamil Nadu as Director (Finance) in the Tamil Nadu Generation and Distribution Corporation Ltd., (TANGEDCO) in 2010.

He served as Board of Director in the following Public Sector Undertakings:

  •     TNEB Ltd.,
  •     Tamil Nadu Power Finance Corporation (TNPFC)
  •     Poompuhar Shipping Corporation
  •     Mahatamil Colleiries Ltd.,
  •     Udangudi Power Corporation (UPCL)

During his tenure as Director (Finance), he was instrumental in completing the Financial Restructuring Plan (FRP) as per the guidelines issued by the Ministry of Power, Government of India. TANGEDCO is the first utility which completed FRP in India. He initiated the process of revaluation of TANGEDCO assets. He served in number of committees and sub-committees to finalize Merchant Power Plant in Tamil Nadu, High Level Negotiation Committee, Wage Revision Committee etc., during his tenure in TANGEDCO.

Shri M.S. Puri
Shri M.S. Puri, Member, HERC

Shri M.S. Puri, a Mechanical Engineer by profession, has a total experience of more than 38 years in various fields of the Power Sector. Shri Puri cleared Engineering services examination of 1977 and was allocated to Central Electricity Authority (CEA). There he worked in Group ‘A' Service of Central Power Engineering Services and retired as Secretary after serving the Authority for more than 35 years. He has been instrumental in taking a number of initiatives during his tenure in CEA for development of the power sector. He contributed a number of technical papers on various subjects including evaluation of various options of power generation, erection and construction agencies, challenges of fuel management, latest trend in fluidized bed combustion technology etc. He was CEA nominated Director on the Board of Haryana Power Generation Corporation Ltd from 17/01/2012 to 30/9/2013.


Considering the contributions, rich knowledge & experience of Shri Puri, the Government of Haryana appointed him as Member, Haryana Electricity Regulatory Commission (HERC) for a period of 5 years to shoulder even higher responsibilities as the Power Sector Regulator. He took over the charge of the Member HERC on 27.02.2014.

He has contributed some of the notable activities in the HERC which include enactment of the Demand Side Supply Regulations, Pre-paid Metering Regulations, Net-Metering Regulations, Smart Grid Regulations, Waste to Energy Regulations, the Renewable Energy tariff orders of solar wind and bio-mass, rationalization of tariff including cross subsidy surcharge, additional surcharge, pass through of power purchase through a robust fuel surcharge adjustment formula and scores of other regulatory issues to ensure the balance between consumer interest and the utility interest.

Shri D.B. Manival Raju
Shri D.B. Manival Raju, Member, KERC

Shri D.B. Manival Raju was sworn in as Member, Karnataka Electricity Regulatory Commission (KERC), Bengaluru, on 05-03-2014.


He was appointed to Indian Revenue Services (IRS) on 16.12.1983 and retired on 31.12.2013 as Commissioner of Income Tax-1, Coimbatore (Tamil Nadu) on attaining superannuation. He served in the Income Tax Department for thirty years in various charges viz., Assessment, Investigation, Administration, Appeals, Audit and Judicial.

His previous services are:

  • Traffic Assistant, Air India: 16.08.1977 – July, 1978
  • Deputy Director of Youth Services & Sports, Government of Karnataka: from 14.08.1978 to 13.12.1983

Shri D. B. Manival Raju is a post graduate in Zoology (Specialization in Entomology).

Shri H.D. Arun Kumar
Shri H.D. Arun Kumar, Member, KERC

Shri H.D. Arun Kumar has been functioning as Member, Karnataka Electricity Regulatory Commission, Bengaluru (Karnataka) since 05-03-2014. Before being appointed to the Commission he was working as an Additional Commissioner of Commercial Taxes in the Commercial Taxes Department, Government of Karnataka. He was actively involved in formulation of new tax policies and also drafting of laws and regulations. He was part of the Commercial Taxes Department team that won the National e-Governance Gold Award for the year 2012.


Shri H. D. Arun Kumar is a science graduate from University of Mysore. His hobbies are golf and reading.

Hony. Secretary
Shri A.K. Singhal
Shri A.K. Singhal, Member, CERC

Shri A.K. Singhal (59 years), a Chartered Accountant by profession, has a distinguished career, characterized by steadfast adherence to principles. He has a rich & varied experience of over 37 years in Corporate Finance Management. He worked as Director (Finance) of NTPC Limited (a Maharatna Company) for over 8 years.


In NTPC, Mr. Singhal played a pivotal role in providing valuable inputs to the Board for taking various strategic decisions to enable the company in achieving its Vision. He was responsible for the entire gamut of financial management of the organization including financial resource mobilization from domestic & global sources, optimum utilization of funds, budgetary controls and investment decisions. During his tenure of 12 years in NTPC, he had led several landmark transactions for the Company such as its IPO, FPO & OFS of equity, very large term loan facilities from banks and financial institutions and establishment of USD 2 billion Medium Term Note Programme and issuance of notes there under. As CFO, he was responsible for establishing adequate internal control systems and adherence by the company to sound corporate governance practices. He played an active role in the decisions involving mergers and acquisitions including backward & forward integration of business. He acted as a vital link between the investing community and the management of the company.

Driven by a passion for excellence and imbued with a strong work ethics, Mr. Singhal believes integrity and honesty as the only policy for enduring business success. Under his able guidance and leadership, NTPC has won many awards & accolades for excellence in Financial Reporting and Corporate Governance. Mr. Singhal has been recognized as Best CFO at various forums including by the ICAI(twice), IMA(Lifetime Achievement Award), CNBC TV 18, ASBA Top Rankers and he has been positioned thrice among top 100 CFOs across the country by CFO Institute of 9dot9 media.

Mr. Singhal has also been the driving force behind various initiatives towards Corporate Social Responsibility (CSR). His emphasis is always to ensure that each CSR initiative of NTPC is aimed to improve lives of the people at the bottom of the pyramid and activities are taken up and processes adopted with due diligence so that benefit of the same reaches upto the last mile.

Considering the contributions and rich knowledge & experience of Mr. Singhal, the Government of India has appointed him as Member, Central Electricity Regulatory Commission in October 2013, to shoulder even higher responsibilities as the Power Sector Regulator.

Hony. Treasurer
Dr. M.K. Iyer
Dr. M.K. Iyer, Member, CERC

DR. M.K. IYER before joining the Central Electricity Regulatory Commission as Member on 10th August, 2015, Dr. M.K. Iyer worked as Member (Finance), Gujarat Electricity Regulatory Commission for a period of 5 years and successfully handled many regulatory issues in the GERC. Some of the notable activities in the GERC include : the multi-year tariff regulations, the renewable tariff orders of solar wind and bio-mass, open access regulations and its enforcement, rationalization of tariff, pass through of power purchase through a robust fuel power purchase adjustment formula and scores of other regulatory issues to ensure the balance between consumer interest and the utility interest. Since the date of joining in GERC in August 2010, a large number of orders have been issued which have far-reaching impact in the smooth functioning of Electricity Sector in Gujarat.


Dr. M.K. Iyer is a Graduate in Physics, an MBA (Finance) and Ph.D in Management with strong record of contributing strategic inputs to generate reasonable value for stakeholders. He has steered the state utility for almost 31 years in the various areas of Finance, HR & IT domains and facilitated realization of overall organisation’s goal. He has demonstrated competencies in diverse functional domains including corporate planning, policy development, Reforms and restructuring, financial management, fiscal discipline, HRM & Industrial relations, Training, and IT driven initiatives, Commerce and Regulatory matters. He has played a key role as Member of the Reform Project Management group and has participated effectively in the ‘Financial Restructuring Plan’ of the unbundling activities of the erstwhile Gujarat Electricity Board.

He is having fine-tuned, analytical, administrative, troubleshooting skills, Assertive team leader, trainer and motivator having ability to integrate efforts of cross functional teams to maximize operational productivity, superior communication abilities.

Just prior to joining the Gujarat Commission, he was working with Gujarat Energy Transmission Corporation Ltd. Vadodara as Sr. Chief General Manager (F&A). During his tenure with erstwhile Gujarat Electricity Board (GEB)/unbundled GEB, he worked in various capacities such as Sr. Chief General Manager (F&A/IT/HR), & CIO, Gujarat Urja Vikas Nigam Ltd., General Manager (Accounts), General Manager (HR), Chief Finance Manager (Budget & Planning), Chief Finance Manager (Project & Planning/Stores Purchase) etc. and has successfully handled the reform/restructuring of the erstwhile Gujarat Electricity Board and implemented the first ever IT initiative, the end to end ERP implementation across all the unbundled seven companies. His date of birth is 06.02.1955.