Manish Raj Gupta Appointed Interim CMD of RINL Amid Leadership Uncertainty
Manish Raj Gupta, Director at SAIL, has been given additional charge as CMD of RINL from January 2026 amid delays in ACC approval for a full-time CMD. Read details.
New Delhi: In another leadership change within the Ministry of Steel, Manish Raj Gupta, Director (Technical, Projects & Raw Materials) at SAIL, has been given additional charge as Chairman and Managing Director (CMD) of Rashtriya Ispat Nigam Limited (RINL).
According to an official order issued by the Ministry of Steel, Manish Raj Gupta will hold this additional responsibility from January 1, 2026, for one year, or until a regular CMD is appointed, whichever happens earlier.
CMD Post Still Awaiting Final Approval
RINL has been without a full-time CMD since Atul Bhatt retired on November 30, 2024. Earlier, S. Sakhtamani, Director (Finance) at FACT, was selected by the Public Enterprises Selection Board (PESB) in September 2024 for the CMD post.
However, his appointment could not move forward as it did not receive clearance from the Appointments Committee of the Cabinet (ACC). This delay led to continued leadership uncertainty at the Visakhapatnam-based steel PSU.
Multiple Interim CMDs in a Short Period
After Atul Bhatt went on leave ahead of retirement, the Ministry of Steel handed interim CMD charge to A.K. Bagchi, Director (Projects), RINL. Later, in September 2024, the charge was transferred to Ajit Kumar Saxena, CMD of MOIL.
Now, with Manish Raj Gupta stepping in, RINL has seen yet another change at the top, highlighting ongoing instability in its leadership.
RINL Facing Serious Financial and Operational Stress
RINL has been under severe pressure over the past few years. Due to raw material shortages, the company was unable to operate two of its three blast furnaces, resulting in heavy monthly losses.
The PSU also defaulted on bank repayments, leading to its credit rating being downgraded to ‘C’ category. At the same time, RINL struggled to meet statutory dues, salary payments, PF contributions, and retirement benefits, causing concern among employees.
Employees Anxious Amid Ongoing Uncertainty
With no permanent CMD in place and frequent leadership changes, employees and executives at RINL remain anxious about the company’s future direction. The lack of stability at the top has added to uncertainty at a time when the steelmaker is already battling serious challenges.
The latest appointment is expected to provide temporary administrative continuity, but the wait for a full-time CMD approved by the ACC continues.