RIL appoints former CVC K.V. Chowdary as director

October 19, 2019 05:05 pm | Updated 05:05 pm IST - MUMBAI

Mukesh Ambani led Reliance Industries Limited (RIL) has appointed former Central Vigilance Commissioner (CVC) K.V. Chowdary as additional director on its board.

“The Board of Directors has appointed K.V. Chowdary as an Additional Director-Non-Executive. K.V. Chowdary is not related to any Director of the Company. In accordance with the circular dated June 20, 2018, issued by the Stock Exchanges, we hereby confirm that Shri K.V. Chowdary, is not debarred from holding the office of Director by virtue of any Securities and Exchange Board of India (SEBI) order or any other such authority,” said a RIL statement in filing to the exchanges.

A mathematics graduate from Loyola College Chennai and Post Graduate in Mathematics from lIT, Chennai, Mr. Chowdary was the Central Vigilance Commissioner (CVC) from June 2015 to June 2019.

His four-year term was marked by some controversy in relation to few politically-sensitive cases, particularly with regard to the infighting in the Central Bureau of Investigation (CBI) in 2018.

“Someone who was Chief Vigilance Commissioner, now is a Director on the board of India’s biggest Company! There should be an investigation into all decisions he took, relating to this Company. This govt enables its cronies to get richer at public’s expense,” Sitaram Yechuri, leader of Communist Party of India said in tweet.

On his retirement, he was appointed as an Advisor to the Department of Revenue on issues relating to black money.

Mr. Chowdary started his career as a probationary officer in Andhra Bank and later joined Indian Revenue Service in 1978.

On deputation, he went to the Department of Revenue as Under Secretary and thereafter to the Department of Company Affairs as Deputy Secretary. He held several executive positions in the government and retired as Chairman of CBDT.

“He was elected as a Member of the Executive Committee of International Association of Anti-Corruption Agencies. He is a Member on the Advisory Board of Comptroller and Auditor General of India,” said the statement.

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