Curtains Down Prematurely for SAIL Chairman Amarendu Prakash; PESB Notifies Vacancy After Prolonged Uncertainty
IndianPSU.com was first to report internal turmoil at SAIL; Amarendu Prakash’s exit follows extended tenure, whistleblower controversy, and strained ministry relations.
Sooner or later, one gets a taste of one's own medicine...
After months of speculation and internal unrest, the tenure of Steel Authority of India Limited (SAIL) Chairman Amarendu Prakash appears to have finally drawn to a close.
Public sector headhunter Public Enterprises Selection Board (PESB) on Tuesday notified the vacancy for the post of Chairman, SAIL, with applications open until 26 February 2026 (3:00 PM). The position is scheduled to be filled by 1 April, marking the effective end of Prakash’s stewardship—well beyond his original tenure completion date.
www.indianpsu.com had earlier reported that all was not well within SAIL and that Prakash was on his way out.
Industry sources suggest the timing of the PESB notification signals an involuntary exit rather than a routine transition.
Tenure Marked by Controversy
Amarendu Prakash’s tenure was dogged by multiple controversies, most notably the fallout from an internal whistleblower complaint relating to an alleged ₹800-crore steel sales irregularity.
Rajeev Bhatia, a SAIL official, had approached the Lokpal alleging that steel was sold at discounted rates to non-vendors—contrary to established norms, which permit concessional sales only to registered construction vendors, not traders. Following the complaint, 29 SAIL officials were placed under suspension.
Bhatia was suspended on flimsy grounds that he had used a personal email ID to lodge the complaint—an action many insiders described as disproportionate. Though his suspension was later revoked, he reportedly faced prolonged departmental pressure before being forced into retirement.
Subsequently, the Lokpal ordered a CBI probe, bringing several companies and SAIL officials under investigation.
Questions Over Double Standards
While suspensions of the 29 officials—including then Director (Commercial) V.S. Chakravarthy and Director (Finance) A.K. Tulsiani—were later revoked pending the CBI inquiry, sources point out that both executives were reinstated to the same sensitive positions.
As per established norms, officers under investigation are typically not assigned critical portfolios, raising questions within PSU circles about selective application of rules.
Friction with Steel Ministry
Sources also point to escalating friction between Prakash and a senior Steel Ministry official, describing the conflict as personality-driven rather than performance-related.
According to insiders, a closed-door meeting in New Delhi several months ago reportedly witnessed a sharp verbal exchange, during which the SAIL Chairman was allegedly reprimanded by the senior bureaucrat in the presence of CMDs from other steel PSUs.
PMO Said to Have Sought Cleanup at SAIL
Sources indicate that the Prime Minister’s Office was unhappy with the style of functioning at SAIL, particularly in light of the corruption allegations. Prime Minister Narendra Modi’s clear-cut zero-tolerance approach toward corruption is believed to have prompted calls for deeper cleansing within the Maharatna steel major.
With PESB now formally inviting applications for the top post, Amarendu Prakash’s chapter at SAIL effectively closes. bringing an unceremonious end to a tenure defined as much by controversy as by corporate leadership.
And one day, you have to reap what you sow, says a Holy Book
