The decision has come after the Delhi High Court asked the government to take action against Rana on a Public Interest Litigation (PIL). The government has named Praveen Garg, Joint Secretary in Ministry of Finance, as Chairman and Managing Director of the Security Printing and Minting Corporation of India Limited (SPMCIL) till a regular appointment is made.
According to sources, Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi declined extension to M S Rana as CMD of SPMCIL. SPMCIL, a Miniratna Category-I CPSE, is under administrative control of the Finance Ministry.
The PIL alleged before the court that Rana was "completely ineligible" for the post and he managed to get appointed by falsely claiming eligibility. The Court during the hearing on the matter had asked the government on what grounds Rana's tenure which ended in March 2014 was being extended.