New Delhi (26.12.2021): Projects & Development India Limited (PDIL) Director (Finance) D S Sudhakar Ramaiah, on loan from HUDCO for the last five years, has been returned to his old post of GM of the government-owned housing finance company following an official order that has surprised many. Because the director had another one and half year for retirement, the order is seen as a punishment for probably his alleged unwillingness to comply with certain instructions even though Ramaiah was given a five-year fixed tenure on PDIL that he completed on October 31, 2021. Tenures of Board-level executives are normally extended if the residual service is not long. Keeping in view the norms and precedence the Government could have extended his term till he reached his retirement age in July 2023 but the ministry is seen to have chosen to relieve him rather unceremoniously. It is rumored that Ramiah was at loggerheads with his immediate junior. Besides, on a few occasions, he is said to have shown reluctance in complying with instructions from the ministry. Whatever be the reality, the development is reminiscent of an apparently similar abrupt move of the Ministry of Power sacking the Director Human Resources of NHPC last month, even though PDIL’s may be a different case. Ramaiah had joined PDIL as Director (Finance) in the first week of October 2016 and also held the additional charge of Chairman & Managing Director(CMD) from 08.11.2016 to 07.10.2018. Prior to joining PDIL, he was working as General Manager (Finance) in HUDCO). (By Rakesh Ranjan)
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By By Rakesh Ranjan - 2021-12-26 12:40:00
New Delhi (26.12.2021): Projects & Development India Limited (PDIL) Director (Finance) D S Sudhakar Ramaiah, on loan from HUDCO for the last five years, has been returned to his old post of GM of the government-owned housing finance company following an official order that has surprised many.
Because the director had another one and half year for retirement, the order is seen as a punishment for probably his alleged unwillingness to comply with certain instructions even though Ramaiah was given a five-year fixed tenure on PDIL that he completed on October 31, 2021.
Tenures of Board-level executives are normally extended if the residual service is not long. Keeping in view the norms and precedence the Government could have extended his term till he reached his retirement age in July 2023 but the ministry is seen to have chosen to relieve him rather unceremoniously.
It is rumored that Ramiah was at loggerheads with his immediate junior. Besides, on a few occasions, he is said to have shown reluctance in complying with instructions from the ministry.
Whatever be the reality, the development is reminiscent of an apparently similar abrupt move of the Ministry of Power sacking the Director Human Resources of NHPC last month, even though PDIL’s may be a different case.
Ramaiah had joined PDIL as Director (Finance) in the first week of October 2016 and also held the additional charge of Chairman & Managing Director(CMD) from 08.11.2016 to 07.10.2018. Prior to joining PDIL, he was working as General Manager (Finance) in HUDCO).
(By Rakesh Ranjan)
