What is future of PEC Ltd without fulltime CMD ?

The post of full time Chairman & Managing Director, PEC Limited has been lying vacant since incumbent M Nagaraj joined HUDCO. Meanwhile, the Public Enterprises Selection Board (PESB) had held a selection meeting on November 7, 2019, but did not find suitable candidate for the same. The Government of India is yet to take decision on the candidate after the Board recommended the concerned Ministry to choose an appropriate course of further action for selection.