New Delhi: In a sudden shake-up at the helm of WAPCOS Ltd, the Ministry of Jal Shakti has shown Chairman and Managing Director (CMD) Rajni Kant Agrawal the door with immediate effect. In its official order dated September 3, the ministry said, “The competent authority in the Ministry of Jal Shakti (DoWR) has decided that Shri Rajni Kant Agrawal is divested of the charge of the post of CMD, WAPCOS Ltd. with immediate effect until further orders.”
Sources told PSU Watch that Agrawal has been removed over alleged “irregularities.”
The ministry has assigned additional responsibility of the post of CMD to Pankaj Kapoor, who is currently serving as Director (Finance).
The order stated, “Shri Pankaj Kapoor, Director (Finance), WAPCOS may look after the additional charge of the post of CMD, WAPCOS Ltd., in addition to his own, for the period of three months subject to extension of his tenure beyond 28.09.2025 as Director (Finance), WAPCOS or until further orders, whichever is earlier. Shri Pankaj Kapoor is directed to take over the charge of the post of CMD, WAPCOS Ltd. immediately.”
The ministry has directed immediate compliance with the order, which was issued by Bhuwan Bhasker Pandey, Under Secretary to the Government of India.
This is the second consecutive WAPCOS CMD to face scrutiny over alleged irregularities. Former CMD Rajinder Gupta was arrested by the Central Bureau of Investigation (CBI) after the agency seized Rs 38 crore in cash from his premises.
According to the CBI’s charge sheet, Gupta allegedly amassed assets disproportionate to his known sources of income during his tenure as CMD of WAPCOS, a central public sector enterprise, from April 2011 to March 2019. The agency has alleged that he used associates to purchase properties worth crores by procuring demand drafts and pay orders in exchange for cash.
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