Shri Sipan Kumar Garg, an accomplished finance leader with over 24 years of distinguished experience in the Indian power sector, assumed the additional charge of Chairman & Managing Director (CMD) of THDC India Limited on 25 November 2025, while continuing to serve as the Director (Finance) of THDC India Limited since 17 August 2024 and holding the additional charge of Director (Finance), SJVN Limited from 1 September 2025. A highly qualified and multidisciplinary professional, Shri Garg holds a B.Com (Hons) degree and is a member of the Institute of Chartered Accountants of India (CA), the Institute of Cost Accountants of India (CMA), and the Institute of Company Secretaries of India (CS), in which he was also a rank holder, along with possessing a Bachelor of Law (LL.B.) degree.
Over the course of his extensive career, he has developed deep expertise in financial management, corporate governance, project financing, regulatory affairs, cost optimization, and commercial operations across both hydro and thermal power domains.
Prior to joining THDC India Limited, he held key leadership roles within the NTPC Group, including serving as the Chief Financial Officer (CFO) of Aravali Power Company Private Limited and Patratu Vidyut Utpadan Nigam Limited, and contributed significantly to NTPC’s Corporate Accounts Group as well as the Koldam Hydro Power Project, where he played an instrumental role. Under his financial leadership, the organization achieved its highest-ever credit ratings and secured substantial savings in interest costs on long-term borrowings, demonstrating his strategic strength in debt management and financial restructuring. Recognized for his integrity, commitment, and exceptional command over financial systems, Shri Garg has consistently delivered excellence in every responsibility he has undertaken, contributing to enhanced financial discipline and operational efficiency at the organizations he has served.
He has further enriched his professional depth through participation in advanced programs, seminars, and workshops at esteemed national and international institutions, and is widely regarded as a seasoned speaker on Accounting Standards, Ind AS, and financial best practices. He has also actively contributed to professional bodies through his involvement in key committees of the Institute of Chartered Accountants of India, including the Committee on Public Finance and Government Accounting, the Accounting Standards Study Group, and the Members in Industry Group (PSU). A leader of high vision and strategic insight, Shri Garg continues to guide THDC India Limited with a focus on financial robustness, operational excellence, and sustainable growth in alignment with India’s evolving energy landscape.
He also serves as the Chairman of THDC India Limited’s subsidiary companies — TUSCO Limited, TREDCO Rajasthan Limited, and THDCIL-UJVNL Energy Company Limited.
