New Delhi: The government has terminated ES Ranganathan from the position of Director (Marketing) of GAIL (India) Ltd and repatriated him as executive director of the company, the state-owned firm said Tuesday. Ranganathan was arrested in January by the Central Bureau of Investigation (CBI) for allegedly taking bribes to give discounts to some private companies on the petrochemical products that GAIL sold to them. Following this, he was placed under suspension.
He got bail in March.
In a stock exchange filing, GAIL said it has received a communication from the Ministry of Petroleum and Natural Gas "conveying the decision of the Appointment Committee of the Cabinet (ACC) for premature termination of the tenure of Shri ES Ranganathan from the post of Director (Marketing), GAIL (India) Ltd with immediate effect".
Ranganathan will be paid three months' salary in lieu of a similar notice period and his consequent repatriation to the post of executive director within the lien period, it said.
He was executive director when he was appointed director (marketing) in July 2020. He will now revert to that position.
He will superannuate in May next year.
The CBI arrested Ranganathan on January 16 for allegedly taking bribe from private companies in exchange for discounts on petrochemical products marketed by GAIL. In the FIR, the CBI said that it conducted raids at eight locations, including Ranganathan's Noida residence and his office, and recovered Rs 1.29 crore in cash, gold jewellery and other valuables. Along with Ranganathan, the CBI has also arrested four other individuals in connection to the case.
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