New Delhi: In an unexpected move, the Ministry of Jal Shakti has removed Rajni Kant Agrawal from his role as Chairman and Managing Director (CMD) of WAPCOS Ltd with immediate effect. The official order, issued on September 3, cited unspecified “irregularities” as the reason for the decision.
Pankaj Kapoor Appointed Interim CMD
Following Agrawal’s exit, Pankaj Kapoor, currently serving as Director (Finance) at WAPCOS, has been assigned the additional charge of CMD. Kapoor has been instructed to take over immediately, with his interim tenure expected to last three months or until further orders.
Second Consecutive CMD Under Scrutiny
This marks the second consecutive WAPCOS CMD facing allegations of misconduct. Agrawal’s predecessor, Rajinder Gupta, was arrested by the Central Bureau of Investigation (CBI) after authorities seized Rs 38 crore in cash from his premises. The CBI alleged Gupta accumulated assets far beyond his known sources of income between 2011 and 2019, using associates to acquire high-value properties through demand drafts and pay orders exchanged for cash.
Focus on Accountability and Transparency
The ministry’s swift action underscores ongoing efforts to reinforce accountability and transparency in central public sector enterprises, particularly amid recurring controversies at WAPCOS.
About WAPCOS
WAPCOS Limited, a Mini Ratna-I PSU under the Ministry of Jal Shakti, is a premier engineering consultancy and EPC company with global operations. It specializes in water resources, power, and infrastructure development, having executed projects in more than 50 countries. The organization plays a pivotal role in supporting India’s development diplomacy while strengthening domestic infrastructure.
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