5 independent directors of MRPL sacked

With this, the board has lost its power to pass accounts, or take any large investment decisions.

The government on Monday sacked all the five independent directors of Mangalore Refinery and Petrochemicals Ltd (MRPL), leaving the company board with no powers to take any large investment decision.

MRPL, in a filing to the stock exchanges on Monday said: “Five non-official part time directors namely, C. L. Shah, Neela Gangadharan, Prof. Usha Kiran Rai, Prof. Jayant M. Modak and Capt. John Prasad Menezes have ceased to be directors on the board of the company.”

With this, the MRPL board has lost its power to pass accounts, or take any large investment decisions.

All the five independent directors were appointed by the previous UPA regime.

After their exit, the company's board now has six functional and promoter directors.