BPCL chief Ashok Sinha puts in paper

State-run Bharat Petroleum Corporation (BPCL) Chairman and Managing Director Ashok Sinha has put in his papers apparently after it emerged that the government may deny him an extension.

Sinha, who completes his five-year term on August 18, was eligible for an extension till he attained superannuation in February 2012.

However, the Petroleum Ministry was not inclined to give him an extension like it had previously done in case of Sarthak Behuria of Indian Oil Corporation (IOC), Subir Raha of Oil and Natural Gas Corporation (ONGC) and P Banerjee of GAIL.

Sinha confirmed sending a letter to the ministry yesterday stating that he no longer wishes to seek an extension.

Sources said the letter was necessary because as per public sector service rules, a member of the company board is required to serve a three month notice before demitting office.

"I am demiting office at the end of my five years on August 18, 2010," Sinha said when reached for comments.

No reasons have been given for not considering Sinha for an extension.

Sinha is the fourth head of a Navratana oil PSU, to be denied an extension. The ministry had in 2006 declined Subir Raha an extension as the chairman and managing director of ONGC and a year later GAIL's Prashanto Banerjee got a similar treatment.

In February this year, Behuria was denied an extension as the chairman of IOC.