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%


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%

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code