Will The Rath Chariot Finally Be Parked at ONGC – or Remain in the Old Stables of Oil India Limited?

This could well be a story that many senior executives in the Oil & Gas and Coal PSUs may not even be aware of.

This is perhaps, one untold, unheard and unread story of Dr. Ranjit Rath, the present CMD of Oil India Limited. Last time, he threw his hat into the ring for the coveted post of Chairman and Managing Director of the mammoth Maharatna PSU – ONGC Limited.

But the first attempt did not bring him success, with the government choosing to give incumbent ONGC Chairman Arun Kumar Singh a one-year extension instead. This time, Rath is back on the shortlist of seven candidates, and if reports in some media houses are to be believed, (which we would label as a pure and created media hype) he is said to be emerging as a frontrunner for the coveted post.

A visit to his yesteryears

Rath was the CMD of Mineral Exploration Corporation Ltd (MECL), a PSU under the Ministry of Mines and he applied for the post of CMD, Bharat Coking Coal Ltd (BCCL), a subsidiary of Coal India Limited and hence a Coal PSU. Following interviews of ten candidates, Rath was recommended by the PSU Headhunter – The Public Enterprises Selection Board (PESB), as the new CMD of BCCL.

But to everyone’s surprise, Rath did not take charge.

Rath did not write to the PESB that he was not interested in becoming the CMD of BCCL as this would have meant that he would be debarred from appearing in any other interview conducted by the the PSU Headhunter – The Public Enterprises Selection Board, that too, for a period of two years.

And then enters Rath’s Jadoo or the Miracle Man!

As a saviour for Rath, came a note from the Appointments Committee of the Cabinet (ACC) stating that PESB’s recommendation for Rath as CMD BCCL, had been cancelled.

As of today, www.indianpsu,com could not access the document giving the reason behind this drastic step. But it is quite obvious that someone, some person very powerful, was pulling the strings from behind for Rath.

Then, on March 9, 2022, less than nine months later, PESB selected Rath to head Oil India, ahead of two serving Oil India directors and another senior executive.

Rath subsequently took charge of OIL in August 2022.

The missed chapter is the Pradhan Coincidence

There is also an interesting coincidence in the chronology.

In June 2021, just a day after Rath’s BCCL selection, the then Petroleum Minister Dharmendra Pradhan had publicly warned Oil India Limited and ONGC that undeveloped resources could be taken back and auctioned if they were not monetised. And in less than nine months later, Rath emerged as PESB’s choice to head Oil India Limited, again an Oil & Gas PSU.

We at www.indianpsu.com are not drawing any inference from the statement of Dharmendra Pradhan, but power corridors, especially those from Oil & Gas, openly speak about the proximity of Rath with the former minister as both belong to one state – Odisha,

In less than nine months later, Rath emerged as PESB’s choice to head Oil India, giving more credence and work to the gossipers.

The Unanswered Trail

We know where the chariot started. We know where it is stationed now. The unanswered question is who was holding the reins now???

And more importantly, where will the Rath’s Chariot be finally parked this time around – ONGC or back to Oil India stables.

Will Rath’s Jadoo or Miracle Man make a return this time around???

The last and perhaps most intriguing part of the story: Despite multiple emails and messages from www.indianpsu.com seeking clarification from Dr. Ranjit Rath, senior officials and the Corporate Communications team, there has been complete silence. And this silence, is indeed, quite deafening!

The questions, therefore, remain open.

WE REPORT – YOU DECIDE…