Moily defends decision on outgoing ONGC chief

The Cabinet’s appoint committee headed by Prime Minister Manmohan Singh may have rejected oil minister M Veerappa Moily’s suggestion to extend Sudhir Vasudeva’s tenure as ONGC chairman and instead chose his successor, but the minister was resolute in his defence of the decision.

“A non-issue has been made a big issue. Everything has been done in a transparent manner. Nothing has been hidden,” he said in his first comments after government appointed Dinesh K Sarraf as the new head of ONGC, the nation's most profitable firm.

Sarraf replaces Vasudeva, who turned 60 on Tuesday and is due to superannuate on Friday. On November 2, 2013, Moily had asked for a one-year extension of Vasudeva’s tenure after superannuation saying that his services are needed to complete the company’s on-going works.

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