IOC’s Behuria denied extension as Chairman

Sarthak Behuria has been denied an extension as Chairman of Indian Oil Corp (IOC).

Sarthak Behuria has been denied an extension as Chairman of Indian Oil Corp (IOC),the third Navratna oil PSU head since 2006 to be shown the door before achieving superannuation age.

No reasons have been given for denying Behuria an extension till he achieved superannuation age of 60 years in March 2012.

Official sources said the Petroleum Ministry on February 25 issued orders appointing BM Bansal,the seniormost director on IOC board,as acting Chairman for three months.

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Both Behuria and Bansal’s five-year term ended today but only the later could earn an extension till his superannuation in January next year.

Behuria is the third head of a Navratana or crown jewel oil PSU,to be denied an extension. The Oil ministry had in 2006 declined Subir Raha an extension as the Chairman and Managing Director of Oil and Natural Gas Corp and a year later GAIL’s Prashanto Banerjee went the same way.

Behuria’s performance as Chairman of IOC had been rated as outstanding by outgoing Oil Secretary RS Pandey and there were no known corruption charges against him,sources said,adding it was not immediately clear why he was being denied an extension.

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