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Murali was eventually removed from the position of the MD. A formal announcement to this effect, however, has not been made as yet.
Meanwhile, Ram declined to comment on whether the board had decided to divest Murali of his powers saying it was an internal matter of the company.
On allegations of irregularities in appointments of family members, he said: "Any appointment of a relative of a Director that needed approval by both the Board of Directors and Shareholders before going to the central government was approved unanimously without a murmur of dissent by any Director or Shareholder. Every one of the 12 Directors of the Company approved every such appointment."