GAIL (India), the country’s largest natural gas company has been accorded the ‘Maharatna’ status by the Government of India on February 01, 2013. The company is the youngest public sector undertaking to be accorded with this recognition.
In the recent past, the company has been recognized as Asia’s no. 1 Gas Utility and the world’s No. 1 Downstream company apart from consistent excellence awards for MoU performance.
The Maharatna status will provide greater flexibility in day to day operations of the company. The Board of a Maharatna company has enhanced powers to accord approvals, to make equity investment to establish financial JVs and wholly owned subsidiaries and undertake mergers and acquisitions (M&A’s) in India or abroad.
