Has SAIL Chairman Amarendu Prakash Resigned? Official Silence, Unofficial Buzz!

Has Amarendu Prakash, Chairman of steel giant Steel Authority of India Limited (SAIL), really put in his papers? Officially—no one knows. Unofficially—everyone seems to know everything.

The rumour mill in the Ministry of Steel is working overtime, churning out whispers that the SAIL Chairman may have taken the drastic step following an alleged tiff with a senior bureaucrat in the ministry. As always, the truth—like steel pricing formulas—remains tightly guarded.

Despite SAIL recording its highest-ever December sales and maintaining robust growth during April–December FY26, speculation refuses to die down. After all, stellar numbers don’t always guarantee smooth sailing in the labyrinth of PSU–ministry relations.

Phone Calls, Messages… and Silence

www.indianpsu.com made earnest attempts to reach CMD SAIL Amarendu Prakash, Steel Secretary Sandeep Poundrik, and even SAIL’s corporate communications team.

The response?

👉 Radio silence.
Which, in bureaucratic circles, often speaks louder than a press release.

Egos, Glare and a Familiar Script

Sources claim the issue wasn’t performance, but personality—a classic ego clash between the Chairman and a senior ministry official. Disagreements allegedly spilled into the public domain, making the friction too visible to ignore.

Sources reveal an ugly verbal exchange during a closed-door meeting held in New Delhi, some months back, where the same senior Steel Ministry bureaucrat, allegedly dressed down the PSU Chairman for speaking out of turn—leaving CMDs from across the ministry stunned.

Interestingly, sources also whisper that another CMD of a steel PSU had earlier been “persuaded” to exit after run-ins with the same bureaucrat—prompting murmurs that this may not be an isolated episode, but a pattern.

Controversies That Refused to Cool

• Amarendu Prakash’s tenure has not been controversy-free. The most notable: The Whistleblower & the ₹800 Crore Question

• Senior SAIL official Rajeev Bhatia had publicly alleged a massive ₹800 crore scam, citing policy manipulation, due diligence lapses, and favoritism towards select private players.
  The disclosures led to a Lokpal-directed probe and suspension of several senior officials in early 2024.

Allegations Against SAIL Chairman Amarendu Prakash – Key Points

• ₹70 lakh legal fee allegedly paid from SAIL exchequer to lawyers who argued before the Lokpal on behalf of Smt. Soma Mondal and Shri M. C. Agrawal, both facing serious corruption-related charges.

• Suspensions revoked on 28.06.2024, pending Lokpal/CBI investigations, as per Ministry of Steel directions.

• Ministry of Steel ordered withholding of the difference between full pay/allowances and subsistence allowance for the suspension period 20.01.2024 to 28.06.2024.

Withholding implemented for Board-level Directors:

• A. K. Tulsiani, then Director (Finance), SAIL

• V. S. Chakravarty, then Director (Commercial), SAIL

In alleged contravention of Ministry directions, the pay differential was released to 26 below Board-level officers, reportedly with Chairman’s approval.

• Retiral dues (Gratuity & Leave Encashment) of A. K. Tulsiani (superannuated 31.03.2025) and V. S. Chakravarty (superannuated 30.06.2025) remain withheld till date due to pending investigations.

• Contrary to the above, similar retiral benefits were released to two below Board-level officers, allegedly in violation of Ministry instructions.

• Officers were posted in sensitive positions immediately after suspension revocation despite ongoing CBI investigations.

Four officers promoted while under CBI probe:

• Abhijeet Kumar
• Chandresh Kumar
• N. K. Sharma
• S. Kalra

The developments have raised serious governance and propriety concerns within vigilance and Ministry circles.

Adding spice to steel, Bhatia even challenged Amarendu Prakash to a public debate—a challenge that, according to him, was met with studied silence.

So, Has He or Hasn’t He? As of now:

❌ No resignation letter in the public domain

❌ No official confirmation

✅ Plenty of whispers, theories, and knowing smiles

Until then, the corridors of power remain agog, the phones remain unanswered, and the rumour mill continues to roll—hotter than molten steel.…