The appointments of Khanna and Brar to the top two positions at Ranbaxy are expected to be announced at the annual general meeting of the company on Tuesday.

Sources said Khanna would play an active role in the affairs of the company if he takes over as the chairman and not merely have a decorative presence.Ranbaxy is also likely to announce a corporate governance code at the annual general meeting. Sources say committees would be constituted to overlook the functioning of different departments of the company. Each committee would make recommendations to the board of directors which would take a final decision. The committees would comprise top and seniorlevel management officials from respective departments as well as some outside experts.

Khanna, also a former Lt Governor of Delhi and currently chairman of Standard Chartered Bank (India), is already on the board of Ranbaxy. He was appointed additional director of Ranbaxy in September last year.

Khanna was rated among the most seasoned IAS officers and public administrators. He held several key positions including the post of chief secretary of Punjab before retiring as union commerce secretary. He was appointed the Lt Governor of Delhi in 1997. He took over as chairman of Standard Chartered Bank (India) last year.