Amarendu Prakash has reportedly tendered his resignation from the position of Chairman & Managing Director, Steel Authority of India Limited (SAIL). Prakash was to complete his tenure on May 30, 2028 and to get extension till September 30, 2030. Rumour has it that he is quitting the position partly because of having day to day squabble with the officials in the Ministry and partly because of seeking better opportunities in the private sector. The Government of India is yet to approve his resignation. It needs to be mentioned here that the CBI and Lokpal are conducting investigations into supply of steel products to many firms by using the policy and guidelines applicable for Projects. It has been alleged that these firms were not doing any project but still SAIL offered discounts to these firms in the name of Projects. 

Prakash, who took over as CMD SAIL on May 31, 2023, was fully aware that the case of supply of steel products to M/s Venkatesh Infra Projects P Ltd is already under investigation of LOKPAL, yet he took no action to stop supplies to firms in the name of Projects, who were not doing any project activity. It has been gathered that lakhs of tonnes of steel have been supplied to such firms under his tenure as CMD and numerous complaints against Amerandu for failing to arrest the above activity are pending before Lokpal. It is to be seen that under such circumstances whether the Government will accept his resignation or not?