According to the PIL filed by a social activist, IRDAI’s govt director Mr. Rao was a former RBI senior official and was appointed by IRDAI in 2011 in violation of appointment norms.
PIL alleged that there have been irregularities within the appointment process of Mr Rao by conspiring and securing the membership in IRDAI’s Superannuation fund other than drawing wage from each – IRDAI and RBI with out merging the identical.
An e mail question despatched to IRDAI, RBI and DFS didn’t elicit any response.
PIL has requested the chief justice to train its powers below Article 226 of the Constitution of India and difficulty a Writ of Mandamus or every other acceptable Writ thereby directing the IRDAI, RBI and Department of Financial Services to nominate an investigation officer or a reliable authority to research the stated matter.
“The Petitioner states herein that till date the Respondent No. 5 (Mr Rao) continues to avail all the benefits in total violation of all Governance principles and is also currently in charge of the finances of the Respondent No.2 (IRDAI). …This conflict-of-interest issues has been completely rolled under the carpet that Mr. Rao has abused such powers for personal gains,” stated the PIL, a replica of which has been reviewed by ET.
The PIL additionally requested the courtroom to provoke the motion in opposition to the Mr Rao and all the opposite officers/staff who have been illegally recruited and have been positioned in varied departments promoted and availed of the advantages of the Superannuation Fund on the IRDAI.