The case, which was initiated in the court of Justice Justice V Kameswar Rao is now being heard by Justice Yogesh Khanna, has been been adjourned to March 21
New Delhi:
The Delhi High Court on Feb 03 has adjourned the ongoing hearing of a plea by Inderjeet Singh, general manger, New India Assurance(NIA) on the issue of appointment of Satyajit Tripathy( who is currently CMD, United India Insurance (UII)) who was orginally chosen as the reserve candidate for the post of CMD of Chennai based UII) by the Banks Board Bureau(BBB).
The case, which was initiated in the court of Justice Justice V Kameswar Rao is now being heard by Justice Yogesh Khanna, has been been adjourned to March 21.
Delhi HC has already served notices in Government of India and Tripathy on the matter.
Earlier,Justice V Kameswar Rao while admitting Singh’s case had reminded him about his earlier judgement in Ravi vs.Union of India & Others where he had disqualified BBB’s from selecting directors in the public sector general insurance companies as it was constituted to select the top officials the PSU banking industry.
After the Delhi HC’s earlier judgement, the government had informed the court that all the directors(except Tripathy) who were appointed by the government on the basis of selection by the BBB have been reverted back to their earlier position of general manger.
Effectively the Delhi HC will now adjudicate whether Tripathy can continue as the CMD of UII despite being selected by the BBB whose power to select directors has already been disapproved by the Delhi HC.
Legal observers pointed out that it would be interesting to watch how government will be responding to Delhi HC’s notice on an issue which not only affects Tripathy’s posting but also whole host of top level appointments in the public sector insurance companies in the last three years.
The government also is yet to unveil any new mode of selecting and recruiting the future CMDs and directors in the PSU general insurance industry.
The post of CMD, NIA is likely to fall vacant after Atul Sahai retires in Feb end.