Proshanto Banerjee, chairman and managing director of GAIL India Ltd, whose term for five years came to an end yesterday, was denied an extension of service till his superannuation a year from now, official sources said.Senior most director S.P. Rao, director (projects) has been made the acting CMD till a full appointment is made. Company officials said Rao took office today. Sources said Banerjee was denied an extension of service because of “his style of functioning and alleged victimisation of officials including a director of the company board”.A six page virtual chargesheet against Banerjee, prepared by the petroleum ministry said, “the performance of Banerjee leaves a lot to be desired. His relationship with other organisations is rather a handicap in the growth of GAIL”.
