Tuesday, September 27, 2022

Ex-CVC KV Chowdary finds seat on Reliance Industries board

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New Delhi: Reliance Industries Ltd (RIL) has appointed former Central Vigilance Commissioner (CVC) KV Chowdary as an independent director on its board, the company said in a statement. Chowdary is a former anti-corruption body head and the first tax department chief under the Modi government.

KV Chowdary first tax chief under Modi regime

A 1978-batch Indian Revenue Service (IRS) officer, KV Chowdary was appointed as the chairman of the Central Board of Direct Taxes (CBDT), the top policy-making body of the income tax department, in August 2014.

On retirement, Chowdary was appointed as an advisor to the Department of Revenue on issues relating to black money and then he was appointed as the CVC from June 2015 to June 2019.

A CVC tenure mired in controversy

Chowdary’s four-year tenure as CVC was marked by controversies, particularly with regard to the infighting in the Central Bureau of Investigation (CBI) which hogged the limelight in 2018.

Justice AK Patnaik, who monitored the CVC inquiry against former CBI Director Alok Verma had told a newspaper that he had found no evidence of corruption against him and that “none of the findings in the CVC report are mine.” This report prepared by the CVC was crucial because a high-powered committee led by Prime Minister Narendra Modi had relied on this report and other submissions by the CVC to remove Verma from the job.

News reports had also claimed that Chowdary had visited Verma and had asked him to withdraw his adverse comments from the annual confidential report of CBI’s No 2 boss Rakesh Asthana.

Reliance Industries informed shareholders

“KV Chowdary is not related to any director of the company,” Reliance Industries said.

“In accordance with the circular dated June 20, 2018, issued by the Stock Exchanges, we hereby confirm that KV Chowdary, is not debarred from holding the office of director by virtue of any Securities and Exchange Board of India (SEBI) order or any other such authority,” Reliance Industries added.

“He was elected as a Member of the Executive Committee of International Association of Anti-Corruption Agencies.
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He is a Member on the Advisory Board of Comptroller and Auditor General of India,” it said. “He holds directorship in CCL Products (India) Ltd, a listed company,” RIL said.

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