Elango steps down as Cairn India CEO

1.    India ranked No. 3 in US Green Building Council list

i. The US Green Building Council (USGBC) has ranked India as No 3 among the list of top 10 countries for LEED outside of the United States.

ii. Canada tops the list followed by China, India, South Korea, Taiwan, Germany and Brazil, among others.

iii. The list demonstrates the global reach of the movement that is transforming the built environment into healthy, high-performing structures that benefit the planet and its people.

iv. “LEED’s success in India represents not only a growing recognition of its demonstrated benefits for human health and operational cost-savings, but also its unparalleled potential to be part of the solution to a warming planet and rising sea levels.”

2.    President confers gallantry awards

i. President Pranab Mukherjee Friday conferred three Kirti Chakras and nine Shaurya Chakras on armed forces personnel for displaying "conspicuous gallantry, indomitable courage and extreme devotion" to duty at a ceremony at the Rashtrapati Bhavan here.

ii. The president also presented three Uttam Yudh Seva Medals for a high degree of distinguished service in an operational context which includes times of war, conflict, or hostilities.

ii. Besides, the president conferred 13 Param Vishisht Seva Medals, four Bar to Ati Vishisht Seva Medals and 23 Ati Vishisht Seva Medals upon senior officers of the armed forces for distinguished service of an exceptional order.

iv. Two of the three Kirti Chakras were given posthumously.

v. The recipients of Kirti Chakras are Constable Bhrigu Nandan Choudhary (posthumous), Constable Lohit Sonowal (posthumous) and Naib Subedar Bhupal Singh Chhantel Magar.

3.    Elango steps down as Cairn India CEO

i. P Elango, interim CEO & Wholetime Director, announced his decision to step down to the employees of the company.

ii. Ending an 18-year stint and less than two-year tenure as the chief of the company, Elango has decided to step down on ‘personal grounds’. However, whispers in corridors were that the management’s indecisiveness on confirming him as a full-fledged CEO was the cause.

iii. Elango’s resignation has come just when Cairn has delivered 200,000 barrels of oil equivalent (oil plus gas) a day from the Rajasthan block. A similarity can be drawn with what happened in August 2012.

iv. Cairn informed the BSE that Sudhir Mathur, CFO, has taken over the additional responsibility of leading the organisation in the interim. The board has accepted his resignation, it said.

v. The announcement had not come as a surprise to those tracking the industry closely, as speculations on Dhir’s exit were high since Anil Agarwal-led Vedanta Group became the majority stakeholder.