The government ended the appointment of Pankaj Dwivedi as an executive director of the Union Bank of India, with immediate effect. He was responsible for returning to Punjab & Sind Bank, where he previously held the position of Managing Director before joining Union Bank in March 2024.
“We wish to inform you that the central government … has canceled the appointment of Shri Pankaj Dwivedi as an executive director of the Union Bank of India and, therefore, it ceases to be executive director of the bank with immediate effect,” said the bank in an exchange note. The bank has not mentioned any reason for the government’s decision.
In August 2024, the High Court of Delhi raised serious questions about its appointment despite the existence of an accusation sheet for sexual harassment. The court heard a dispute of public interest (Pil) deposited by the woman who launched the allegations against him.
The Pil challenged Dwivedi’s appointment on the grounds that it would have bypassing compulsory vigilance authorization, a key requirement for high -level publications in public sector banks. The petition was underlined by the lawyer Prashant Bhushan, who stressed that the appointment of an official facing an accusation sheet and without authorization from the Central Vigilance Commission (CVC), violated the established standards governing appointments in public sector companies.
A division bench comprising the acting chief judge Manmohan and judge Tushar Rao Gedela had issued an official opinion in response to the petition. The bench said it was concerned about the way in which such a appointment was authorized to continue in the absence of its own vigilance report, stressing the importance of transparency and reasonable diligence in higher public appointments.
Dwivedi was appointed to the position of Executive Director for a three -year term from March 27, 2024. The examination and questions of the court on the failure of the procedure seem to have led to the rapid cancellation of his appointment and his reintegration into his previous role in Punjab & Sind Bank.
The case drew attention to the importance of verification of vigilance in high -level appointments of the government and the public sector, in particular in cases involving serious allegations. New procedures in the case should take place before the High Court of Delhi.
