The government has terminated ES Ranganathan as director (marketing) of GAIL (India) Ltd. and repatriated him as executive director of the company, the state-owned firm said Tuesday.
Ranganathan was in January arrested by the Central Bureau of Investigation for allegedly taking bribes to give discounts to some private companies on the petrochemicals 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 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.