By NSB.News
The Union Ministry of Housing and Urban Affairs (MoHUA), in consultation with the Public Enterprises Selection Board (PESB), has agreed to restructure the boards of subsidiaries of NBCC (India) Limited following major corporate developments involving HSCC (India) Limited and Hindustan Steelworks Construction Limited (HSCL).
The restructuring follows the announcement of the merger of HSCC (India) Limited, a wholly-owned subsidiary of NBCC (India) Limited, with its parent company on July 14, 2026.
NBCC also holds a 51 per cent stake in Hindustan Steelworks Construction Limited (HSCL), effective from April 1, 2017.
As part of the restructuring exercise, MoHUA and PESB have decided to abolish several top-level positions in HSCC and HSCL.
Managing Director and Director Posts Abolished in HSCL
Under the revised structure, the posts of Managing Director and Director (Finance) in Hindustan Steelworks Construction Limited have been abolished. The move is part of the broader restructuring of the boards of NBCC’s subsidiary companies.
The post of Managing Director in HSCL was already vacant. The decision to abolish the Director (Finance) position also has implications for the existing tenure arrangements related to the post.
Shyam Awasthi, who was serving as Director (Finance) at HSCL, had a tenure up to August 1, 2026. He is otherwise due to superannuate on March 31, 2035. The Public Enterprises Selection Board, in a letter dated July 17, 2026, had advised the Ministry of Housing and Urban Affairs to take a decision regarding the extension or non-extension of the tenure of the Director (Finance), HSCL.
HSCC Managing Director and Director (Engineering) Posts Also Abolished
The restructuring also affects the board structure of HSCC (India) Limited. MoHUA, in consultation with PESB, has abolished the posts of:
- Managing Director
- Director (Engineering)
Both the Managing Director and Director (Engineering) positions in HSCC were lying vacant. The decision comes shortly after the announcement regarding the merger of HSCC with its parent company, NBCC (India) Limited.
Since HSCC is a wholly-owned subsidiary of NBCC, the proposed merger has paved the way for a restructuring of its top management and board-level positions.
HSCC Merger With NBCC Drives Board Restructuring
The July 14, 2026 announcement regarding the merger of HSCC with NBCC marked a major development for the two public sector companies. With HSCC set to merge with its parent company, the continuation of separate board-level positions in the subsidiary became subject to review.
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The restructuring approved by MoHUA and PESB now formally removes the Managing Director and Director (Engineering) posts from HSCC. The development is expected to streamline the organisational and management structure following the proposed merger process.
NBCC’s Stake in HSCL Also Part of the Background
NBCC acquired a 51 per cent stake in Hindustan Steelworks Construction Limited with effect from April 1, 2017. HSCL subsequently became part of NBCC’s subsidiary structure, making the composition and restructuring of its board an important matter for the NBCC group.
The latest decision abolishing the Managing Director and Director (Finance) posts in HSCL reflects a further effort to reorganise the leadership structure of NBCC’s subsidiaries.
PESB Had Asked MoHUA to Decide on Director (Finance) Tenure
The issue of the Director (Finance) position in HSCL had also been under consideration before the restructuring decision. PESB, through its letter dated July 17, 2026, advised MoHUA to decide whether the tenure of the Director (Finance), HSCL, should be extended or not extended.
Shyam Awasthi, the Director (Finance) at HSCL, had his tenure running up to August 1, 2026. However, with the post itself now abolished as part of the board restructuring, the organisational structure of HSCL has undergone a significant change.
Key Changes at a Glance
Hindustan Steelworks Construction Limited (HSCL)
Posts abolished:
- Managing Director
- Director (Finance)
HSCC (India) Limited
Posts abolished:
- Managing Director
- Director (Engineering)
Major Developments
- HSCC merger with NBCC announced on July 14, 2026
- NBCC has held a 51% stake in HSCL since April 1, 2017
- MoHUA approved the restructuring in consultation with PESB
- Several affected top-level posts in HSCC and HSCL were already vacant
What Does the Restructuring Mean?
The restructuring of the subsidiary boards represents an important organisational change within the NBCC group. For HSCC, the abolition of the Managing Director and Director (Engineering) positions comes in the context of its merger with NBCC.
For HSCL, the removal of the Managing Director and Director (Finance) posts changes the company’s top-level board structure. The decisions are expected to streamline management arrangements and align the governance structure of NBCC’s subsidiaries with the changing corporate framework.
The Ministry of Housing and Urban Affairs, in consultation with the Public Enterprises Selection Board, has approved a significant restructuring of the boards of NBCC subsidiaries HSCC and HSCL. The posts of Managing Director and Director (Finance) in HSCL, along with the Managing Director and Director (Engineering) positions in HSCC, have been abolished.
The development follows the announcement of HSCC’s merger with NBCC on July 14, 2026, while NBCC has held a controlling 51 per cent stake in HSCL since 2017.
The restructuring marks another important step in reorganising the management and governance framework of companies within the NBCC group