Liyaquat Khan out of ASI governing council

President of the Actuarial Society of India (ASI) for four terms president and long time executive committee member Liyaquat Khan is technically out of the actuarial institute today. Ironically, he has been disqualified to be member of ASI's executive committee, which is the governing body of the ASI, because of a rule he himself had introduced during his presidency.

According to this rule, an executive committee member ceases to hold office automatically if he absents himself for three consecutive governing council meetings and can only be readmitted after making a written application seeking condonation of the absence.

Alternatively, the executive committee can fill the vacancy with a person who may have lost the governing body elections ("second-best loser") with the least margin, or allow the vacancy to stay. The "second-best loser" in the last elections was K P Narashiman, former ASI president and former chairman, Life Insurance Corporation of India (LIC).

In Khan's case, he hadn't attend the last three meetings of ASI's executive committee. "I have not written to ASI to condone my absence from the meetings. So as per the rule, I am no longer a member of ASI's governing council. But ASI has sent me a letter asking for the reasons for not attending the executive committee meetings."

When asked about the reason for not attending the meetings he says, "I am not happy with the way ASI is carrying on its activities. The institute is not honouring the commitments made to the overseas actuarial bodies during my tenure as president."