Oil regulator V K Sibal, who is being probed by Central Vigilance Commission and Central Bureau of Investigation for allegedly favouring Reliance Industries, on Friday bid farewell to DGH and will on Saturday rejoin parent Oil India as it has rejected his application for voluntary retirement.
With CVC finding a 'deficit of trust' in him on the allegations, Sibal was denied an extension as head of India's upstream nodal agency till his superannuation age of 60 years in January 2012.
Petroleum Ministry on Friday issued orders appointing S K Srivastava, Director (Operations) at OIL and former deputy Director General of Directorate General of Hydrocarbons (DGH), as his successor, sources in know of the development said.
Sibal, Director General of DGH, had on October 23 applied for voluntary retirement from OIL, from where he had gone on lien to DGH in 2004. But OIL rejected his application saying he could request for earlier retirement only from his present employer, which was Government of India, sources said.
For OIL to consider his plea, he would have to complete his deputation and join back and then apply for retirement.
Sibal on Friday communicated to his parent firm, to whom he would have reverted back after completion of his lien, that he would join in the same position that he held in 2004 on Saturday and immediately thereafter seek early retirement, they said.
Srivastava has been given additional charge of DG, DGH for a six month period till April 30 during which time the government will look for a permanent appointment.
