As ‘Indianmandarins’ had anticipated in its report dated May 19 former Secretary Finance R S Gujral (Rtd IAS:HY:1976) has been appointed as an Independent Director of Reliance India Limited for a period of five years i.e. till June 2020. R S Gujaral served as country’s Finance Secretary till his retirement on November 30, 2013.
As Union Revenue Secretary Gujaral was considered as the architect of amendment to the income-tax act which had enabled the IT authorities to impose tax in retrospection; commonly known as GAAR. Further UPA-II had laterally replaced Gujaral with the then Expenditure Secretary Sumit Bose by appointing Bose as Revenue Secretary. Gujaral had yet maintained the rank of Finance Secretary on account of his seniority.
Weblink- Story dated May 19: