After Subir Raha, the government has denied extension of service to another public sector chief executive. This time it is Proshanto Banerjee, chairman and managing director of Gail, reports CNBC-TV18.

Banerjee, whose five-year term came to an end on 26 August  was denied an extension of service by the prime minister's office.

S P Rao has been appointed as acting chairman and managing director of Gail.