Mishra, a senior IAS officer of Madhya Pradesh cadre, has been shortlisted along with 17 other candidates by the ministry of mines for the chairman-cum-managing director (CMD) post at Nalco. The interview for the post is slated to be completed by the Public Enterprises Selection Board (PSEB) this week.

The search for a new CMD has been initiated by the ministry of mines as the tenure of the present encumbent, SN Johri, ends in July.

Mishra's last-moment entry into the race has surprised many in the corporate sector with some believing that he must have been assured of the job by somebody who matters in the Government of India.

The PPL CMD last week visited Nalco's Anugul smelter plant and acquainted himself with the operation and management perhaps as part of hispreparation for the interview.

Mishra, in fact, has proved his management skills in PPL. He put the company back on rails by improving its production and sales turnover and containing its labour problems.

Mishra's joining the race has made the competition stiff for Balco's SK Ghosh, Nalco's C Venkataramana, who are considered to be the front-runners for the post. Two Nalco Directors, SB Nayak (production), and KN Mishra (personnel & administration) are also in the race along with senior executives of SAIL, Hindustan Zinc Ltd and some IAS officers.

While the race for the post is hotting up, a villification campaign is going on in Nalco. The corporate head office wing of Nalco Employees Central Union has levelled charges against director (finance) Venkataramana and executive director (commerce) Asim Choudhury of financial irregularities.

According to the union, Venkataramana and Choudhury had played a key role in the controversial credit sales of metal to Pennar Aluminium Co (Rs 36 crore) of Hyderabadand Savitri India Ltd (Rs 1.5 crore) of Delhi. However, the two senior executives have denied the charges.

Choudhry, who was director, vigilance for a brief period before Sanat Mishra, an Indian Audit and Account service officer, took over as the new director last week, strongly believes that "some unhappy elements whose conduct is under the scrutiny of the vigilance department have planted the story in media". What surprises him is that some baseless and ridiculous allegations have been made against him.

Referring to the charges that he had favoured a firm where his son works, Choudhury says: "I don't even have a son." And about the Pennar deal, he clarified that he was not a party to the decision. He emphatically says: "No graft charges or any other charges are pending or have even been contemplated against me."

Venkataramana is worried about the adverse media publicity he is getting for it may mar his prospects as a candidate.

Nalco watchers believe the union allegations will have no bearing on theselections as PESB would take a couple of months to finalise the panel. According to them, the ministry of mines may give an extention to the present CMD Johri or appoint an acting CMD till a full time chief is selected.

Meanwhile, speculation is rife about Rourkela Steel Plant managing director AK Singh having been tipped to take over the Nalco reins from Johri.