Board of Dredging Corporation removes Victor as MD and CEO
PORTS & SHIPPING

Board of Dredging Corporation removes Victor as MD and CEO

The board of the Mumbai-listed Dredging Corporation of India (DCI) decided to remove G Y V Victor as the Managing Director and Chief Executive Officer after an investigation report supported allegations that he lied about his education and employment history when applying for the position at India's largest dredging contractor.

One of the four shareholders of the dredging company and chairman of both DCI and the Visakhapatnam Port Authority, K Rama Mohana Rao, confirmed the board's choice to fire Victor.

On July 13 of last year, Victor was suspended due to the same allegations while an investigation was ongoing.

The board also agreed to call an annual general meeting (AGM) soon to obtain the consent of all shareholders, including the minority owners, on the decision to fire Victor.

The board considered the Companies Act, which addresses "disqualification and removal," and the Model Conduct, Discipline and Appeal (CDA) Regulations of Central Public Sector Enterprises (CPSEs), which deals with "removal and dismissal," before choosing to "remove" Victor.

Also read:
Mahindra Lifespaces Development sells 9.24 acre of land to Urban Rise
NIT lowers building sanction fees by 50%


Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

The board of the Mumbai-listed Dredging Corporation of India (DCI) decided to remove G Y V Victor as the Managing Director and Chief Executive Officer after an investigation report supported allegations that he lied about his education and employment history when applying for the position at India's largest dredging contractor. One of the four shareholders of the dredging company and chairman of both DCI and the Visakhapatnam Port Authority, K Rama Mohana Rao, confirmed the board's choice to fire Victor. On July 13 of last year, Victor was suspended due to the same allegations while an investigation was ongoing. The board also agreed to call an annual general meeting (AGM) soon to obtain the consent of all shareholders, including the minority owners, on the decision to fire Victor. The board considered the Companies Act, which addresses disqualification and removal, and the Model Conduct, Discipline and Appeal (CDA) Regulations of Central Public Sector Enterprises (CPSEs), which deals with removal and dismissal, before choosing to remove Victor. Also read: Mahindra Lifespaces Development sells 9.24 acre of land to Urban Rise NIT lowers building sanction fees by 50%

Next Story
Real Estate

Colliers India Transacts 207,000 sq ft office space at Embassy TechVillage

Embassy Office Parks REIT, India’s first listed REIT and the largest office REIT in Asia by area, announced that it has signed an Agreement to Lease (‘ATL’) with global cyber security company Rubrik at Embassy TechVillage in Bengaluru.Colliers, a leading global diversified professional services company, specialising in commercial real estate services, engineering consultancy and investment management facilitated the transaction for Rubrik.Located on Bengaluru’s Outer Ring Road, Embassy TechVillage is one of Embassy REIT’s flagship office parks which offers world-class office spaces, ..

Next Story
Infrastructure Urban

Ensemble Infrastructure India Appoints Suman Saha as Director of Design

Ensemble Infrastructure India Ltd, a leading workplace design and build fit-out company, has appointed Suman Saha as its new Director of Design. With 25 years of experience in the industry, Suman is recognized for his innovative approach and excellence in design leadership.Working closely with the CEO, Suman’s appointment will enhance the company’s design communication across multiple touchpoints, ensuring smooth collaboration between clients, designers, and execution teams for superior project outcomes. Under his guidance, Ensemble will focus on creating workspaces and design labs that em..

Next Story
Products

Ribbon Vanity by Küche7: Fluid Design Meets Everyday Elegance

Küche7, pioneers in luxury stainless steel kitchens, have unveiled the Ribbon Vanity, a graceful creation that transforms bathroom spaces with its soft, flowing design and understated sophistication. Inspired by the fluid form of a ribbon, this vanity combines smooth finishes, clean lines, and gentle curves, offering a timeless aesthetic that seamlessly complements diverse interior styles.Available in a refined blush pink hue, the Ribbon Vanity effortlessly merges functionality with elegance. With thoughtfully designed storage options, it ensures that bathroom essentials are neatly organised ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000