• Another independent director, K K Sharma, the chairman complained, “has not submitted ‘Deed of Covenant’ declaration of secrecy and other mandatory information despite repeated telephone calls, letters and contacts by local branch officials”.

• In the case of another director, Umesh Kumar Sharma, the complaint is also serious. The Chairman has written that he “gave an incorrect statement that he is a graduate, whereas he is only a matriculate... Harcharan Singh Josh is a member of the Minority Commission and is drawing salary as a full fledged public servant. He has been a defaulter of the bank and his accounts were settled after giving concessions.”

Josh, earlier Secretary of the AICC minority department, was also in charge of Manmohan Singh’s election in 1999; Umesh Kumar Sharma is former general secretary of the Haryana Pradesh Youth Congress and general secretary of the District Congress Committee in Sonepat; and, K K Sharma is former AICC Secretary, attached to Congress Working Committee member Mukul Wasnik.

Interestingly, last year when the Finance Ministry learnt that Umesh Kumar Sharma was only a matriculate, the Department of Banking initiated a move to replace him. On February 23, 2006, Amitabh Verma, DB Joint Secretary, wrote a letter to Alok Kumar, Director (ACC), stating that the matter has been discussed with Finance Minister P Chidambaram and that “he has desired that we need not seek relaxation of any of the eligibility conditions.”

In other words, “kindly resubmit the case to the Appointments Committee of the Cabinet to remove Umesh Kumar Sharma from the Board of Punjab and Sind Bank.”

... contd.