Call it a coal conundrum, but Coal India Ltd's (CIL's) wait for a full-time chairman and managing director, after Partha S Bhattacharyya stepped down on February 28, seems to be endless. The coal ministry has not yet received the mandatory clearance from the vigilance for the two shortlisted candidates.
After an interview held last year, the Public Enterprises Selection Board (PESB) had shortlisted two candidates — Tapas Kumar Lahiry of Bharat Coking Coal Ltd (BCCL) and Dinesh Chandra Garg, head of Western Coalfields Ltd.
“We are awaiting clearance from the Central Vigilance Commission,” confirmed C Balakrishnan, secretary to the Government of India, ministry of coal. Lahiry was the front-runner for the top post when the selection process concluded in November 2010.
However, according to an official source close to the development, “the vigilance commission has not cleared the names following allegations against them”.
Garg, it has been alleged, “abused his official position” to give a contractor undue benefit of more than Rs 75 lakh to build a culvert in 2008. “Now, it seems there are some charges against Lahiry, too. If the clearance of either of the candidates does not happen, the ministry would be forced to go for another selection panel soon,” the source said. Balakrishnan, however, remained tight lipped on the matter.
After Bhattacharyya's retirement, the PSU's technical director, N C Jha, was given additional charge of CMD for three months. Even before the end of the three months (which runs till June), Jha was given another three months' extension in the first week of May.
“This decision of the ministry shows the process will take some time or the company will have to go through the selection process once again. There is some validity period for a selection panel, too,” he said.
“Normally, the validity period for a selection panel is four to six months. As far as CIL is concerned, we have made our choice and now it depends on the clearance from different departments,” said a top PESB official.
According to sources, if another selection panel is set up, Jha might also get another extension till the next CMD is picked.
