June 22, 2016

PIL challenging former GIFT city chairman_s appointment to RBI Board


A PIL was filed with the Gujarat High Court which challenged the appointment of GIFT City’s ex-chairman Sudhir Mankad to RBI. The High Court today confirmed that the hearing for the PIL will be taken up in due course.

RTI acitivist Roshan Shah has filed a PIL challenging Sudhir's appointment as a non-officiating RBI. This PIL along with an earlier PIL related to Sudhir Mankad will be clubbed and adjudicated by the division bench comprising of Chief Justice R Subhash Reddy & Justice V M Pancholi.

The Appointment Committee of the Central Government (which also includes the Prime Minister) has recently appointed Mankad to the Board of RBI. The PIL is filed against this appointment on the premise that Mankad’s credentials are subjudice in a PIL pending before the High Court and hence the appointment should be stayed.

Earlier this year D C Anjaria, who had earlier served as an independent director of GIFT City, had filed a PIL with allegations of irregularity in awarding of the contracts in the prestigious GIFT City project. This PIL had sought that the allegations by investigated by a SIT.

The current PIL by Roshan Shah states that appointment of a person whose credentials are sub-judice will make a dent to the confidence of public in RBI.

Mankad had earlier served as Chief Secretary of Gujarat and had retired in April 2007. Thereafter he had served as a Board member of various companies and was later appointed the chairman of GIFT City. His current appointment will make him 1 of the 8 non-official directors of RBI.



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