The 54-year-old Sarraf was Director (Finance), Oil and Natural Gas Corp (ONGC) before being selected to head the company tasked with achievement of oil and gas properties overseas.
ONGC in a filing to the stock exchanges said that Sarraf has resigned from the post of Director (Finance) after being appointed at OVL’s top job.
He hands over his charge today. The post of OVL Managing Director fell vacant when R S Butola took over as the Chairman of state refiner Indian Oil Corp (IOC) prior this year. Sarraf was selected for the job by government head-hunters Public Enterprise Selection Board (PESB).
Formal orders appointing Sarraf as MD of OVL were issued by the oil ministry on September 14 although he did not take charge instantly due to impending share sale of ONGC.
Sarraf joined ONGC in September 1991 and has, since then, handled different assignments. As Director (Finance) of ONGC, he was accountable for formulating strategic financial policies and implementation thereof, appraisal of capital expenditure and investment proposals, development of financial management information and control systems, treasury management and ensuring sound corporate governance practices.